• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

US Transfers Nearly $600 Million Worth of Bitcoin to Coinbase

user avatar

by Giorgi Kostiuk

a year ago

  1. US Government Bitcoin Transfer
  2. Purpose of the Coinbase Transfer
  3. Sources of the Bitcoin


    4. The US government transferred 10,000 Bitcoin, worth over $593 million, to a Coinbase Prime deposit wallet.

    US Government Bitcoin Transfer

    According to blockchain analytics firm Arkham Intelligence, the Bitcoin was sent to Coinbase Prime. Despite initial concerns, analysts believe that the sale of these Bitcoins is unlikely.

    Purpose of the Coinbase Transfer

    Last month, the US Department of Justice partnered with Coinbase Prime to safeguard and trade large digital assets. Ryan Lee, chief analyst at Bitget Research, believes that the Bitcoin was likely transferred for safekeeping rather than active trading.

    Sources of the Bitcoin

    The Bitcoin was seized during the Silk Road raid in 2022, when the Department of Justice announced the seizure of 50,000 BTC. Silk Road, operating on the dark net, offered the sale of illicit goods. Its creator, Ross Ulbricht, was arrested in 2013 and is serving two life sentences without parole.

    The US government's transfer of a large amount of Bitcoin to Coinbase suggests an interest in secure storage rather than quick sales, contributing to market stability.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Shiba Inu Investors Look to 2026 for New Opportunities

chest

Shiba Inu investors are shifting their focus to 2026, seeking new catalysts for price recovery, including potential regulatory changes and developments within the Shiba Inu ecosystem.

user avatarLuis Flores

S&P 500 Hits Record High as Tech Stocks Surge

chest

The S&P 500 index reached a record high of 6,909.79, driven by gains in technology stocks like Nvidia and Alphabet, alongside a reported 4.3% GDP growth.

user avatarMaria Gutierrez

Prediction Markets Enter Fully Agent-Driven Phase

chest

Prediction platforms are evolving to integrate fully autonomous agent economies, enhancing their scalability and reliability.

user avatarDavid Robinson

AI to Transform Enterprise Workflows and Regulatory Demands

chest

The next phase of AI adoption will require businesses to implement explainable AI systems and verifiable models to meet rising complexity in automation and compliance.

user avatarArif Mukhtar

Expert Analysis Suggests Potential Bitcoin Price Trajectory

chest

An expert has applied a fractal model to Bitcoin's current price, suggesting a potential decline towards 70,000 in the coming days.

user avatarAndrew Smith

Moneta Markets Expands Regulated Crypto CFD Offerings

chest

Moneta Markets has expanded its cryptocurrency trading offerings to include Bitcoin, Ethereum, and XRP CFDs with leverage up to 500x, targeting retail traders in the Korean market.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.