Just as the crypto market is trying to recover, the U.S. government moved $288 million in Bitcoin and Ethereum to Coinbase Prime. The transfer has sparked a fear that the government could be preparing to sell its crypto holdings. If so, then this move could put pressure on Bitcoin and push prices lower.
US Government Moves $288M In Crypto To Coinbase Prime
According to Arkham Intelligence, U.S. government-linked wallets transferred 3,941 BTC worth about $244 million and 30,007 ETH valued at roughly $53.09 million to Coinbase Prime over the past eight hours.
The transfers involved crypto seized from cases linked to Ryan Farace, BTC-e, and Brian Krewson.
Despite all these transactions, the U.S. government remains one of the world’s largest Bitcoin holders. It controls around 324,552 BTC, 28,394 ETH, and digital assets worth more than $20.4 billion.
Timeline of Major U.S. Government Bitcoin Transfers
This isn’t the first time the U.S. government has moved a large amount of Bitcoin to Coinbase Prime. Here’s the list of transfers.
- July 13, 2026: The U.S. government moved 140.21 BTC (about $8.79 million) to Coinbase Prime.
- April 16, 2026: 8 BTC (about $606,000) linked to the 2016 Bitfinex hack was transferred to Coinbase Prime.
- April 10, 2026: Authorities sent 2.44 BTC (about $177,000) seized from the Glenn Olivio case to Coinbase Prime.
- Dec 2, 2024: The government transferred 19,800 BTC (about $1.92 billion) seized from the Silk Road case to Coinbase Prime.
- April 2, 2024: Around 30,175 BTC (about $2 billion) were moved to Coinbase Prime, marking one of the government’s biggest Bitcoin transfers.
Is the U.S. Government Selling Bitcoin?
Looking at previous transfers, there is no sign that the U.S. government plans to sell its Bitcoin. Instead, it has only moved the coins to Coinbase Prime.
Coinbase Prime serves as the institutional custodian for many U.S. government crypto assets. Funds are often transferred there for secure storage, wallet consolidation, legal processing, or victim restitution.
There is another reason why the sale is unlikely. In March 2025, the U.S. government signed an executive order that says it should keep most of its Bitcoin instead of selling it.
The government can only sell the coins in special cases, such as when a court orders money to be returned to victims or for other legal reasons. So, for now, this looks like a wallet transfer, not a Bitcoin sell-off.
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