US-linked wallets move over $100M in seized Bitcoin to Coinbase Prime
- —833.6 BTC (~$71.6M) and 40,285 BNB (~$31.63M) moved to Coinbase Prime on October 7
- —The BTC traces to the HashFlare case and Bitfinex hack coins; the BNB came from Alameda Research
- —Galaxy Research counted 9,261 BTC (~$770M) over two days, Lookonchain 17,733 BTC (~$1.48B) over three
- —Coinbase Prime has served as custodian for seized assets for the US Marshals Service since July 2024
Why it matters: A transfer to a custodian is not a sale, but the market is watching for potential BTC price pressure from government reserves.
Source: Bitcoin Magazine NL