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Crypto Regulation

US Government Wallet Moves 833.6 BTC Worth $71.6M to Coinbase Prime

A wallet tagged as belonging to the US government transferred 833.6 BTC, worth $71.6 million, to a Coinbase Prime deposit address. Arkham data shows 568.7 BTC is tied to seized HashFlare assets and 264.9 BTC to Bitfinex hack funds. A transfer to a Prime deposit address does not confirm a sale, and Coinbase also provides custody for government-held crypto; a similar $288 million transfer occurred in July.

Original source

AI take

The composition matters more than the size: mixing seized HashFlare and Bitfinex-linked coins in one move keeps two separate forfeiture tracks advancing toward eventual liquidation, and Coinbase Prime's dual role as exchange and custodian means this signals custody logistics as much as sale intent. The July precedent suggests a recurring pattern rather than a one-off, so the open question is whether these transfers keep arriving in tranches and whether disposition follows each one. That cadence, not any single move, is what overhang watchers should track.

Generated by AI for reference only.

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