On Monday, almost $297 million was seized by the United States Government in bitcoin and the Ethera factory in Coinbase Prime. The transfer was recorded in the chain but did not show that the official decision had been taken to sell it.
Coinbase Prime provides both hosting and transaction execution and financing services. This platform has previously been used by United States federal agencies to manage confiscated digital assets, so such transfers are more like asset hosting adjustments than direct sales signals.
Transferred from multiple law enforcement cases
The transfer consisted of approximately 3,940 BTCs valued at approximately $244 million and about 30,000 ETHs valued at approximately $53 million. Arkham's government wallet tracker records the movement, and Alex Thorn, head of Galaxy Research, also links the Bitcoins to the seized assets associated with Ryan Farace and the closed BTC-e Exchange.
The Ether Workshop comes from a wallet related to Brian Krewson. It is believed that these assets are concentrated on institutional platforms for subsequent management, execution or judicial disposal.
The sale is still open.
The deposit of assets in Coinbase Prime does not amount to immediate sale. The platform can help governments to integrate wallets, switch custody, or execute transactions when needed, but the chain record itself does not indicate the final instructions.
An executive order signed by Trump in March 2025 established a strategic bitcoin reserve and required that bitcoin included in the reserve should not be sold. For other digital assets, the Ministry of Finance may establish a regulatory programme within the scope of the law. The executive order also retains exceptions such as return of assets to the victim, cooperation with law enforcement or compliance with court orders.
Government wallets still hold large amounts of encrypted assets.
According to current tracker estimates, government-related wallets still hold approximately $20.5 billion in encrypted assets, of which about 32.5 million are in bitcoin, the highest share. The wallet also includes assets such as an Ether, Tether, and bitcoin, but the public tracking tool does not necessarily cover all federal addresses.
This balance is subject to rapid adjustment due to currency fluctuations and the changing judicial dispositions. Public dashboards can only provide estimates and cannot replace official complete accounts.