US Government Transfers $288.3 Million of Seized Crypto to Coinbase, Sparking Sale Speculation

The US government has transferred seized Bitcoin and Ether to Coinbase Prime.

Arkham, an on-chain analytics platform, reported on July 13 that the government moved about $288.3 million of the seized cryptocurrencies to Coinbase Prime.

The assets included cryptocurrency seized from Ryan Farace, who was convicted of operating the dark-web drug marketplace XANAXMAN. They also included seized assets tied to the now-shuttered exchange BTC-e, which was accused of illegal money laundering, as well as holdings seized from Brian Krewson.

The transfer has fueled speculation that the government may be taking preliminary steps toward a sale. So far, however, there has been no official confirmation that the US government has sold the assets.