US Government Moves $288.3 Million of Seized Crypto to Coinbase Prime, Stirring Sale Speculation
Summary
- The US government transferred about $288.3 million of seized Bitcoin and Ether to Coinbase Prime, according to a report.
- The transfer included seized assets linked to XANAXMAN operator Ryan Farace, BTC-e, and Brian Krewson.
- The move has fueled speculation that the US government may be taking preliminary steps toward a sale, though there has been no official confirmation.
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The US government has transferred seized Bitcoin and Ether to Coinbase Prime.
Arkham, an on-chain analytics platform, reported on July 13 that the government moved about $288.3 million of the seized cryptocurrencies to Coinbase Prime.
The transfer included crypto seized from Ryan Farace, who was convicted of operating the dark-web drug marketplace XANAXMAN. It also included seized assets tied to the shuttered exchange BTC-e, which was accused of money laundering, as well as assets seized from Brian Krewson.
The move has fueled speculation that the government may be preparing to sell the holdings. There has been no official confirmation that any sale has taken place.
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