US government wallets transferred about $288 million in seized Bitcoin and Ether to Coinbase Prime on Monday. The move involved coins from the Farace and BTC-e cases and occurred despite a prior executive order on Bitcoin reserves.
Wallets linked to the Ryan Farace seizure sent 2,875 BTC, worth roughly $178 million, through an intermediary address before reaching Coinbase Prime. A separate wallet tied to the BTC-e case moved 925.512 BTC, valued at about $57 million, in the same pattern.
A wallet connected to the Brian Krewson case sent 30,007 ETH, worth $53.09 million, directly to a Coinbase Prime deposit address. Additional smaller transfers between government Coinbase addresses and a cold wallet indicated internal shuffling.
The transfers total around $288 million and represent a small portion of the government's roughly $20.65 billion in crypto holdings. They do not confirm a sale, as Coinbase Prime also provides custody services.
