The US government transferred about 9,261 Bitcoin valued at roughly $770 million to Coinbase Prime over October 7-8. These transfers, made in batches, involved wallets linked to the government and were sent to Coinbase's institutional custody addresses. While this move places a large pool of seized cryptocurrency under market scrutiny, there is no confirmation that the Bitcoin was sold. The government holds about 325,000 BTC worth $28 billion, mostly from seizures, and a 2025 executive order limits selling from this Strategic Bitcoin Reserve except under specific conditions.
The U.S. government-linked Bitcoin transfers provide context for cryptocurrency market activity. For readers following major cryptocurrencies on Pluang, as of Oct 08, 2026 21:15 WIB, 25 out of 50 major cryptocurrencies rose while 24 fell. Notable movers include SNX with a 4.00% increase and EGLD with a 3.81% increase, while ONE declined by 4.23%.
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