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These crypto transfers were carried out over several hours on Monday. The total shift comprised 3,800 BTC, valued at $235 million, and 30,000 ETH, worth $53 million. As per reports, the transferred Bitcoin could be traced back to the assets confiscated in separate criminal cases. These include the case connected to the dark web drug dealer Ryan Farace, also known as “Xanaxman,” and the collapsed crypto exchange BTC-e.
At the same time, the mentioned Ethereum tokens were previously seized from Brian Krewson in connection with the $54 million money laundering case. Arkham noted:
“The US Government just deposited a total of $288.33M of BTC and ETH to Coinbase Prime. This includes confiscations from Brian Krewson, BTC-e, and Ryan Farace.”
Could this transfer signal a crypto sale?
Usually, such large crypto moves by governments are closely watched as they could signal a possible sell-off. However, there are other possibilities, as a transfer to Coinbase Prime can also serve purposes beyond a potential sale.
In 2024, the US Marshals Service chose Coinbase Prime to provide custody and trading services for forfeited assets. This indicates that the latest move can also be a part of the country’s routine process of moving seized crypto into managed custody. As the government has not yet confirmed its plans, the speculations of a possible sale are baseless.
It is also worth noting that the seized BTCs are now held under the US government’s Strategic Bitcoin Reserve. After signing the executive order in March 2025, US President Donald Trump confirmed that the coins held under the reserve would not be sold. While the latest crypto transfers are linked to the seized assets, the community remains confused about the government’s intention.
Meanwhile, Ethereum is treated differently. Unlike BTC, ETH comes under the government’s Digital Asset Stockpile. This gives the government more flexibility to manage the seized ETH. Thus, Ethereum does not come under Trump’s “never-sell” policy.
Bitcoin and Ethereum prices stay strong
Historically, huge crypto movements to exchanges spark a short-term negative trend in the market. This is because they are often seen as a signal of a possible liquidation event. But, in the latest case, the Bitcoin and Ethereum prices are showing an opposite reaction.
As of press time, BTC is trading at $63,869, up 2.11% in a day. Despite a minimal $0.6% monthly decline, the coin has surged by nearly 1.5% in a week. The trading volume has also surged over the past 24 hours, reaching $28.1 billion, with a 26% rise.
The Ethereum price is experiencing a more notable bullish reversal. Currently at $1,875, the ETH price is up by a remarkable 6.5% in a day. Over the past week and month, the altcoin has soared by 6.2 and 12.7%, respectively. The 24-hour volume is up by about 24%, currently at $11.97 billion.
Source:: US Government Shifts $288M Seized Bitcoin, Ethereum to Coinbase Prime: Is a Sale Coming?