According to Coindesk, a wallet linked to the U.S. government relocated 30,175 bitcoins to a suspected Coinbase wallet early Tuesday. At the current price of bitcoin (BTC) sitting at around $65,000, this transfer is valued at approximately $2 billion.

In March 2023, the government sold 9,861 bitcoins for $216 million, which was the last confirmed sale after seizing around 50,000 bitcoins connected to the Silk Road platform in late 2022.

Even though this particular transfer of bitcoins was directed to an unnamed wallet, Arkham Intelligence identified it as belonging to the cryptocurrency exchange Coinbase.