On October 8, a US government-linked wallet transferred 12,267.02 BTC, worth about $1.01 billion, to Coinbase Prime addresses. These coins are tied to the 2016 Bitfinex hack seizure, part of a larger $1.5 to $1.78 billion movement of seized Bitcoin between October 6 and 8. Analysts interpret this as custody consolidation rather than a sale, as the Department of Justice and US Marshals Service use Coinbase Prime for managing seized assets. The market reacted with a $4,000 Bitcoin price drop, but no confirmed liquidations occurred. The US government holds an estimated 307,000 to 325,000 BTC seized from various cases, and any future sales would significantly impact market supply and prices.
The government-linked $1 billion Bitcoin transfer to Coinbase Prime addresses provides context for cryptocurrency market activity. For readers following major cryptocurrencies on Pluang, as of Oct 22, 2026 20:42 WIB, 4 out of 50 major cryptocurrencies rose while 45 fell. Notable movers include MANA down 5.53% at Rp1.519, AVAX down 5.40% at Rp166.244, and BAT down 5.32% at Rp3.060.
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