Using wallets linked to the US government, $103 million was transferred in BTC and BNB, with more than $71 million in BTC arriving at a Coinbase Prime account. This transaction raises questions about the possibility of selling these assets.
According to blockchain analyst EmberCN, 833.6 BTC worth $71.56 million and 40 285 BNB worth $31.63 million were transferred from a US government address. The total amount of the transactions was approximately $103 million.
The bitcoins were sent to Coinbase Prime, while the BNB passed through several addresses before reaching an address beginning with 0xBE7 and ending in 81E.
According to EmberCN's estimates, addresses linked to the US government still hold around $28 billion in digital assets, with the bulk of that amount in BTC. These addresses hold approximately 324 000 BTC, worth $27.7 billion.
Is the US government selling its BTC?
The sending of 833.6 BTC to Coinbase Prime increased the likelihood of a sale, since the platform can execute trades, but the movement of funds on the blockchain does not confirm that the bitcoins were sold.
In July 2024, the US Marshals Service chose Coinbase Prime to provide custody and advanced trading services for large digital assets managed under federal asset forfeiture operations. Thus, assets arriving on the platform may be held on deposit or used for trading.
A similar question arose in July, when government-linked wallets transferred nearly $297 million in confiscated BTC and ETH to Coinbase Prime.
These transactions involved about 3940 BTC worth $244 million and approximately 30 000 ETH, valued at roughly $53 million. The bitcoins were linked to arrests made by Ryan Farace, known as "Xanaxman," and the defunct exchange BTC e, while the ETH was tied to a separate federal case.
No trades were identified as a result of the July transactions. Blockchain data confirms that the assets arrived at Coinbase Prime but does not make it possible to determine whether officials instructed the platform to liquidate them.
Federal policy on government-owned bitcoins has changed since several large transfers that took place in 2024.
In March 2025, President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve and a separate American stockpile of digital assets for other cryptocurrencies. Under the order, bitcoins that have been finally forfeited and deposited into the Strategic Bitcoin Reserve "are not to be sold" and must be held as a reserve asset.
The restriction does not apply to all cryptocurrencies visible in a wallet tied to a government agency, regardless of their legal status. The order contains provisions concerning assets subject to court-ordered forfeiture, victim restitution, law enforcement operations, and other requirements of current legislation.
Cryptocurrencies in the government's possession, with the exception of bitcoin, are treated separately. Assets such as BNB may flow into the American Digital Asset Fund, where the Secretary of the Treasury has the authority to determine strategies for their responsible management in accordance with current law.
Thus, the current movement of BNB has a different political context than the BTC held in the strategic reserve.
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