U.S. government-linked wallets transferred more than $100 million in cryptocurrency on Tuesday, according to blockchain intelligence platform Arkham.
The transactions included 833.599 BTC, worth about $71.6 million at the time of the transfers. The bitcoin was initially sent to two addresses that Arkham does not label. Within hours, both addresses transferred the funds to wallets identified by Arkham as Coinbase Prime deposit addresses.
Separately, a wallet labeled as belonging to the U.S. government moved roughly 40,285 BNB, valued at $31.63 million, to the unidentified address 0x7F68F63fB3A9CCCf352409603421E0A574FbAD90. The entire amount was then sent to another unlabeled wallet, 0x6fB3Fe7b7E78AbB84CE007cBC7412C850B15A579.
The bitcoin consisted of 568.7 BTC tied to funds Arkham labels as Potapenko/Turogin forfeited assets and 264.9 BTC seized in connection with the Bitfinex hack. The BNB was among assets seized from Alameda Research.
Despite the transfers, the U.S. government still holds approximately $27.5 billion worth of cryptocurrency. Those holdings came from enforcement actions, and the government has not purchased additional crypto using taxpayer funds.
Government wallet movements can often lead to speculation that a sale is imminent, particularly when funds are routed toward addresses associated with exchanges. However, the transactions alone do not confirm that the assets are being sold.
“Transfer is not the same as a sale,” market commentator Jose Rosell said on X. He noted that a March 2025 executive order calls for bitcoin forfeited to the government to be held as part of a Strategic Bitcoin Reserve.
