US Government Transfers $470M in Seized Crypto to Coinbase Prime
Key Facts
The US government moved $470 million worth of seized Bitcoin and Tether to a Coinbase Prime deposit address. According to Crypto Briefing, the transfer indicates active management of seized digital assets, which is often a precursor to institutional liquidation or custody restructuring.
Shares of Coinbase Global, Inc. (COIN) closed at $185.74 on October 6, 2026, prior to the reported activity. The stock traded between a low of $184.83 and a high of $192.8 during that session, as large-scale government asset movements typically signal potential selling pressure that can impact broader crypto market prices.
Latest Updates · 1
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Update: The US government transferred an additional $94.15 million in USDT to Coinbase on October 7, 2026, bringing the total recently moved assets to $566 million. These funds were identified as assets seized from the collapsed firms FTX and Alameda Research.