US government moves $297M in seized Bitcoin, Ether to Coinbase Prime U

The US government moved nearly $300 million in seized Bitcoin and Ether to Coinbase Prime on Monday, renewing speculation that the assets could be sold.

Data from Arkham shows 3,940 Bitcoin (BTC) (worth $243.95 million) and 30,014 Ether (ETH) (worth $53.09 million) were sent to Coinbase Prime on Monday. The funds were linked to several high-profile US government crypto seizures.

“These coin movements were comprised of coins seized from ryan farace (“xanaxman”) and defunct crypto exchange btc-e,” said Galaxy Research head Alex Thorn, referring to the Bitcoin movements. The Ether is linked to Brian Krewson, an Oracle employee implicated in a $54 million crypto storage and money laundering scheme.

The transfers have drawn attention because a sale would appear to conflict with US President Donald Trump’s March 2025 executive order, which said Bitcoin seized by the US government should form part of the Strategic Bitcoin Reserve and should not be sold.

However, the deposits do not confirm a sale, as Coinbase Prime provides institutions with custody, trading, financing and staking services, meaning the transfers may simply reflect asset consolidation.

Although the US government has previously transferred cryptocurrency to Coinbase Prime, Monday's transfer was one of the largest from government-linked wallets this year.

In June, a US government-linked wallet moved 98,589 Chainlink (LINK) tokens to the platform, with the funds traced to assets seized from FTX and Alameda Research. In April, around 8.2 Bitcoin tied to the 2016 Bitfinex hack was sent to Coinbase Prime.

US government-linked wallets are estimated to still hold $20.6 billion in crypto, including around 325,000 BTC, 28,000 ETH, 146 million USDT and 750 Wrappd Bitcoin (WBTC).

Your About Us page mentions you've been offering your services "since 2018", but I couldn't find any trace of it from back then... If you were using a different domain at that time, it'd be better if you could mention it on the same page as well.
^{- If that number was part of a default text that you forgot to edit, you should also remove the live exchange feed!}

He might come back using another account or another website and create a new thread here to promote it. It doesn't cost much. They just move the same website to a new domain. They might even use the same legal pages and terms without changing anything but the domain name.

I don't know how anyone can trust these new exchanges that have no reputation, especially when they show many red flags. When there are already trusted exchanges available, why would anyone risk using a new one without knowing if they'll actually get their money? I guess they attract people with lower fees or features that make it look better than it is. Some people might also try them because of their fake founding date which makes the exchange look older than it actually is.

Yes, that's what I noticed.. Most of them only post advertisements for these exchanges, then either disappear or,  whenever you point out red flags, they keep posting AI-generated posts without caring about their platform's transparency.

This could be because they don't want to build a legit business that lasts in the long term. Instead, it might be an exit scam that can happen at any time once they get a large trading volume through their new platform. Or maybe their intention is to make money from the money these platforms pay to shillers, or they want to promote these threads on Google so they rank higher on Google, gain popularity, and get backlinks. These exchanges are the easiest way for them to make quick and illegitimate money.