The U.S. government shifted roughly $12.9 million in seized crypto over a six-hour window, according to data tracked by Arkham and amplified by Wu Blockchain. The largest piece of the movement—about 5,939 ETH and 296,709 USDT worth $11.45 million—came from an address labeled as holding funds seized in connection with the Bitfinex hack and was sent to Coinbase Prime. A separate FTX/Alameda seized-funds address transferred a smaller basket of tokens, including 209.18 ETH, 0.533 WBTC, 1,231 COMP, 5.37 YFI, 4,054 NMR, 4,107 AXS and 138,950 RLC, valued at about $543,000.
The transfers follow a much larger $288 million movement of seized Bitcoin and Ether to Coinbase Prime earlier in the week, according to CoinDesk and The Block. While the latest transfer is modest relative to daily trading volumes, the involvement of government-labeled wallets and the destination of Coinbase Prime—a platform used for institutional custody and potential liquidation—has renewed speculation about possible sell pressure. The assets in motion included DeFi staples like COMP, YFI, and AXS, adding to market attention on those tokens.
The historical weight of the Bitfinex case, where the DOJ seized approximately 95,000 BTC in 2022, and the ongoing fallout from the FTX collapse make any government crypto movement a closely watched event. Although the transfers do not automatically mean the assets are being sold, the pattern of routing funds to Coinbase Prime often raises questions about whether authorities are preparing for liquidation or merely consolidating custody.
