U.S. government moves $288 million in seized bitcoin, ether to Coinbase Prime
CoinDesk 2026-07-14 06:28:43
Context: The U.S. government has transferred $288 million worth of seized bitcoin and ether to Coinbase Prime, a move that comes despite a previous directive from President Donald Trump to hold onto seized cryptocurrencies. The transfer involved coins seized from the Farace and BTC-e cases, which were moved through new wallets before being deposited on the exchange. This development has significant implications for the handling of seized digital assets by the U.S. government.
Key Facts
- The U.S. government transferred a total of $288 million worth of seized bitcoin and ether to Coinbase Prime, a prominent cryptocurrency exchange platform.
- The transferred coins originated from the Farace and BTC-e seizures, and were moved through fresh wallets before being deposited on Coinbase Prime.
- The transfer occurred despite a previous executive directive from President Donald Trump, which had ordered the U.S. government to hold onto seized cryptocurrencies rather than sell them.