Transfer of 12,267 BTC from the US government to Coinbase Prime

The transfer of Bitcoin by the US government on October 8, 2026, involved 12,267 BTC, approximately $1.01 billion, to Coinbase Prime, originating from a wallet linked to the seizure of the 2016 Bitfinex hack. Between October 6 and 8, government wallets moved between 17,795 and 21,500 BTC, with an estimated value between $1.5 billion and $1.78 billion. Galaxy Research and Arkham Intelligence interpret the movements as a reorganization of custody rather than sales. During the transfers, Bitcoin lost about $4,000, with no confirmations of related liquidations. The Bitcoins were transferred through various unlabeled addresses, arriving at Coinbase Prime, which serves as a custody service for institutional clients. About half of the transferred Bitcoins were linked to the Bitfinex seizure, while the rest came from confiscation proceedings. Analysts have not confirmed that the transfers were sales. The Department of Justice and the US Marshals Service manage the seized Bitcoins, utilizing the infrastructure of Coinbase Prime. Estimates indicate that the Bitcoins seized by the government range between 307,000 and 325,000 BTC, valued at approximately $25 billion.

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