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BNB 
BTC U.S. government-linked wallets transfer more than $100 million in Bitcoin and BNB
On Tuesday, wallet addresses associated with the U.S. president's administration transferred more than $100 million in Bitcoin (BTC) and Binance (BNB), of which 833.6 bitcoins were transferred to Coinbase Prime's deposit address.
Key Points
- On Tuesday, government-linked wallets transferred approximately $103 million in Bitcoin and BNB.
- The 833.6 bitcoins have arrived at Coinbase Prime's deposit address, but the sale has not yet been confirmed.
- Bitcoin's origin can be traced to the HashFlare fraud and Bitfinex hacking, while BNB comes from Alameda Research.
Details of Bitcoin and BNB transfers
Data from blockchain intelligence company Arkham shows that approximately US$71.6 million worth of Bitcoin was transferred out of wallets marked as government-owned and flowed to two addresses not marked by the company. Both addresses transferred funds to Coinbase Prime's deposit address within hours. At the same time, another wallet marked as government-owned sent approximately 40,285 BNBs worth approximately $31.63 million through a series of unmarked addresses, bringing the total amount transferred that day to approximately $103 million.
Of these, approximately 568.7 bitcoins came from confiscated funds from Sergei Potapenko and Ivan Turogin, who were behind the HashFlare cloud mining fraud. An additional 264.9 bitcoins date back to the Bitfinex hack in 2016, while BNB came from assets seized from Alameda Research, a trading company linked to the bankrupt exchange FTX.
Sani, an online analyst who runs timechainindex.com, pointed out that before the large transfer, a small test payment was sent to Coinbase Prime. According to reports, this is the first time that the U.S. government has made a bitcoin transfer since August 26. Subsequently, Bitcoin prices fell to a low of about $83,840 early Wednesday, a decline that was linked to higher oil prices and a strengthening U.S. dollar.
Concerns about government selling
Such transfers often raise market concerns about government selling assets. "Transferring money is not the same as selling," market commentator Jose Rosell wrote on Platform X, citing a March 2025 executive order. Coinbase Prime also provides custody services, which the U.S. Marshals Service selected in July 2024 as a platform for large-scale asset holding and trading in federal forfeiture cases. Currently, no federal agency has explained the reasons for these currency transfers or announced any sales plans.
The executive order, signed by President Trump, establishes a "strategic bitcoin reserve" and prohibits the sale of bitcoins that are ultimately confiscated and deposited in the reserve, unless required by a court order or victim compensation. Tokens such as BNB can be entered into a separate "digital asset inventory." Similar questions arose earlier on July 13, when government-linked wallets sent more than $288 million in Bitcoin and Ethereum to Coinbase Prime. No sales were confirmed at the time. However, officials sold 9,861 Silk Road-related bitcoins in March 2023 for approximately $216 million, a disposal that was later disclosed in court documents.
The size of bitcoins held by the government
According to estimates by on-chain analyst EmberCN, the government's positions come from seizure actions by law enforcement agencies. The current total amount is approximately 324,000 bitcoins, worth approximately US$27.7 billion.
