US Government Transfers $300 Million in Crypto to Coinbase Prime

Wallets linked to the US government have transferred $300 million worth of Bitcoin and Ether to Coinbase Prime. The transfer included 3,940 Bitcoin and 30,014 Ether, with a total value exceeding $297 million. The Ether assets are associated with a case involving Oracle employee Brian Krewson, linked to a $54 million crypto custody and money laundering scheme. The transfer has drawn attention due to discussions suggesting that a potential sale could contradict a March 2025 executive order by President Donald Trump. The order states that the Bitcoin seized by the US government should be part of the Strategic Bitcoin Reserve and should not be sold. However, the transfer to Coinbase Prime does not imply a sale; the platform offers services such as custody, trading, financing, and staking to institutional clients. Therefore, it is assessed that the recent movement may be limited to consolidating the assets or administrative reorganization. The transaction on Monday stands out as one of the largest transfers from government-linked wallets this year. The US government has previously sent crypto assets to Coinbase Prime. It is estimated that wallets linked to the US government still hold approximately $20.6 billion in crypto assets.

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