On October 8, a wallet linked to the US government transferred 12,267.02 BTC, worth about $1.01 billion, to Coinbase Prime deposit addresses. Between October 6 and 8, government-linked wallets moved between 17,795 and 21,500 BTC, estimated at $1.5 billion to $1.78 billion, including 9,261 BTC tracked by Galaxy Research. Arkham Intelligence and Galaxy Research characterized the activity as custody consolidation rather than a sale, with part of the funds originating from seizures related to the Bitfinex hack, FTX and Alameda. No liquidations were confirmed, although bitcoin fell by roughly $4,000 during the transfers. Estimates place the US government’s seized bitcoin holdings between 307,000 and 325,000 BTC, worth about $25 billion.
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