US Government Moves $297 Million Seized Crypto to Coinbase Prime

The U.S. government transferred nearly $300 million worth of seized cryptocurrency to the institutional platform Coinbase Prime on Monday, July 13, 2026, according to on-chain data. The movement of assets, which included approximately 3,940 Bitcoin and 30,014 Ether, has sparked market speculation about a potential sale, though officials have not confirmed any liquidation.

Blockchain intelligence firm Arkham tracked the transfers from wallets linked to U.S. government agencies. The assets are connected to several high-profile criminal forfeiture cases. The Bitcoin portion is largely tied to funds seized from Ryan Farace, an online drug dealer known as "Xanaxman," and from the defunct cryptocurrency exchange BTCe. The Ether is linked to a forfeiture action involving Brian Krewson, who was alleged to have managed wallets holding cryptocurrency for convicted drug traffickers.

The transfer is one of the largest observed from government-linked wallets this year and follows a pattern of similar deposits to Coinbase Prime. In recent months, authorities have moved other seized assets, including Chainlink tokens connected to FTX and Bitcoin from the 2016 Bitfinex hack, to the same...