US Government Moves $297M Seized BTC and ETH to Coinbase Prime

Par DCN Editorial Team
Publié le 14 July 2026

Regulation

US Government Moves $297M in Seized BTC and ETH to Coinbase Prime

The United States government has transferred roughly $297 million worth of seized Bitcoin and Ethereum to the Coinbase Prime platform, a move that raises questions about a potential imminent liquidation. This action comes at a time when the cryptocurrency market is already showing signs of fragility, with Bitcoin hovering around $62,700 and altcoins struggling to maintain recent gains amid macroeconomic uncertainties.

According to blockchain data, addresses linked to the US government have moved substantial funds to Coinbase Prime, the institutional brokerage platform designed for large volumes. Historically, this type of transfer is interpreted as a prelude to a sale, with the government using Coinbase Prime as an intermediary to liquidate its seized digital assets. The exact amounts in BTC and ETH have not been officially confirmed by the Department of Justice or the US Marshals Service, but on-chain analysts estimate the total transfer value at around $297 million at current market prices.

A Historically Consequential Precedent

This is not the first time the US government has moved seized cryptocurrencies to exchanges. In March 2023, the Department of Justice transferred nearly 50,000 BTC seized from the Silk Road platform to Coinbase, preceding a series of auctions that temporarily weighed on the market. More recently, in July 2024, the government moved 3,940 BTC – then valued at approximately $240 million – to Coinbase Prime, followed by a partial liquidation in the following weeks.

The key difference this time lies in the combined BTC and ETH volume. Including Ethereum in the transfer suggests the government is diversifying its liquidation methods, potentially to minimize market impact by spreading sales across multiple digital assets. Observers also note that the timing coincides with a period of reduced liquidity, typical of the summer months, which could amplify the effect of any sale on prices.

Historically, the US government has confiscated Bitcoin through several high-profile cases: the shutdown of Silk Road (144,000 BTC), the Ulbricht hacking platform, the Bitfinex case (95,000 BTC stolen and recovered), and various seizures linked to drug trafficking and money laundering. The management of these seized assets falls under the US Marshals Service, which regularly organizes auctions or uses intermediaries like Coinbase Prime to facilitate liquidations.

Potential Impact on the Bitcoin Market

An amount of $297 million represents about 0.15% of the average daily trading capitalization of Bitcoin. While significant, this volume alone is not enough to trigger a market collapse. However, the psychological effect of a government sale could cascade into further liquidations from traders who anticipate additional downward pressure and reduce their positions as a precaution.

Market analysts distinguish two main scenarios. First: a gradual and orderly sale via Coinbase Prime, spread over several weeks with limited daily volumes, which would limit the impact on the BTC price. This scenario is the most likely, with the government seeking to maximize recovered value while minimizing market disruption. Second: an accelerated liquidation if the government anticipates a market downturn, which would create immediate selling pressure and could push Bitcoin below the psychological support of $60,000.

It is important to note that the US government still holds substantial reserves of seized Bitcoin, estimated at over 200,000 BTC according to the latest assessments. The current movements therefore represent only a fraction of those total holdings. The government’s overall liquidation strategy remains opaque, but the regularity of transfers to Coinbase Prime suggests a standardized and proven process.

Macroeconomic Context Weighs on the Market

This transfer occurs in an especially tense macroeconomic environment for risky assets. Bitcoin has...