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US government moves $23M Bitcoin to Coinbase for Bitfinex restitution, not market sale

Market News
06 Oct 2026, 20:06 WIB
Crypto Briefing
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Bullish
US government moves $23M Bitcoin to Coinbase for Bitfinex restitution, not market sale

The US government transferred about 264.8 Bitcoin, worth roughly $23 million, to Coinbase as part of a court-ordered restitution to Bitfinex for the 2016 hack. This move is not a sale but a return of seized assets following a 2025 federal court ruling requiring in-kind restitution. Bitfinex plans to use the returned coins to redeem tokens for hack victims and buy back its LEO tokens. This transfer represents a small fraction of the government's total Bitcoin holdings and signals no immediate market impact.

The US government's Bitcoin transfer to Coinbase is context for readers. As of Oct 07, 2026 00:03 WIB, 24 of 50 major cryptocurrencies on Pluang rose, 25 fell. ALGO dropped 3.59% to Rp2.204 with 73% buy orders; UNI fell 3.29% to Rp154.275 with 65% buy orders; ADA rose 2.98% to Rp4.871 with 60% buy orders.

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