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BTC The U.S. government transferred more than 12,000 seized bitcoins, worth more than US$1 billion, to Coinbase Prime wallet
The U.S. government recently completed a major asset transfer operation, transferring more than 12,267 seized bitcoins (BTC) into a Coinbase Prime wallet. Based on current market value, the value of these bitcoins exceeds US$1 billion. The transfer occurred hours earlier after another bitcoin worth $770 million was transferred to the same platform.
Seizure Bitcoin linked to Bitfinex hacking incident
Blockchain analysis firm Arkham Research pointed out that the wallet address used in the most recent transfer was related to assets recovered from the 2016 Bitfinex hacking incident. In that high-profile case, hackers stole a total of 119,756 bitcoins from the Hong Kong-based cryptocurrency exchange.
At present, the final recipient address to which the U.S. government transferred this time is still unclear. Details about the end use or planned monetization of these digital assets have not been disclosed, and public blockchain records have failed to provide more relevant information.
Small Dictionary: Coinbase Prime
Coinbase Prime is an institutional trading platform built by Coinbase for large cryptocurrency trading and organization-level custody solutions such as hedge funds and government agencies.
The government holds large bitcoin reserves
It is estimated that as of 2026, the U.S. government controls approximately 328,372 bitcoin reserves. These positions mainly come from assets confiscated in various criminal investigations and legal actions over the years.
In March 2025, U.S. President Donald Trump signed an executive order to establish the country's strategic Bitcoin and crypto asset reserves. However, Congress has not yet formally legislated this initiative, and relevant legislative work is still in progress.
Cointelegraph sought comment on the latest transfer from the US Marshals Service, which manages seized digital assets, and the Department of Justice. As of press time, neither institution responded to questions about the purpose or timing of these transactions.
Many analysts are now closely watching how the U.S. government handles this large batch of bitcoins in the coming months, and the impact further monetization operations or strategic holdings may have on market sentiment.
