The U.S. government has transferred approximately 3,940 Bitcoin (worth around $241 million) to Coinbase Prime. This move comes a day after receiving judicial approval to sell the cryptocurrency. The Bitcoin was originally seized from narcotics trafficker Banmeet Singh and forfeited at trial in January 2024. Currently, the U.S. government holds around 213,546 Bitcoin, valued at approximately $13 billion. The transaction is expected to be managed by Coinbase's institutional services, with potential options including over-the-counter desks or open market auctions. Additionally, the U.S. government is also selling Bitcoin seized from Silk Road.
It's going up forever. Buy #Bitcoin https://t.co/mdhAmQUU5m
mrgn mamas hold it down https://t.co/KvH0AoOl6J
Alternative assets on Solana 🔥 https://t.co/HTBoV5aCm5
How governments feel after transferring their $BTC on exchanges https://t.co/PLF9b20IZY
need i say more? https://t.co/fDy9p6UG8e
Sooooo while the timeline is going Blast crazy, it appears the US Government just sent $240M of Bitcoin to Coinbase!! The money was seized from Banmeet Singh, the alleged dark web drug dealer who pled guilty to several charges. Anyone know what happens to this BTC now? https://t.co/bmi38LMd9M
The allied forces about to team up with Germany to drop nukes on BTC. You hate to see it. https://t.co/fFhN3DxvV3
Just when the Crypto market stated to look good again the US Government decided to send $240m worth of $BTC to Coinbase to sell so they can cover 2.58 hours of interest on the $32,000,000,000,000 ($32 trillion) national debt. https://t.co/FsCeSUWPE2
This is definitely part of @GiganticRebirth’s “wall of worry” Let’s see how well we climb. https://t.co/5OyKJ66AVS
All at the same time- US Govt selling seized Silk Road #Bitcoin. US Govt selling seized Banmeet Singh BTC. German Govt selling seized Movie2k BTC. Mt Gox distributing BTC after a decade. Interesting.
Governments all dumping their #Bitcoin Are we going lower or bouncing?
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Governments all dumping their #Bitcoin Are we going lower of bouncing?
🚨 The US government has deposited $241M of #Bitcoin to Coinbase prime.
🚀🔥 "Production cost up, price follows! Simple economics, folks. Bitcoin's value is set to skyrocket! 📈💸" https://t.co/mDk8I9klvR
🚨 US Government Sends $240M BTC to Coinbase Prime - X / Arkham Intel
🚨 NEWS: 🇺🇲 US Government Sends $240M in Seized #BTC to Coinbase Prime, Originally Seized from Narcotics Trafficker Banmeet Singh. https://t.co/gL6CklfHos
Oh fuck off lol https://t.co/yaFiNH9JT4
Germany dumping #Bitcoin MtGox dumping #Bitcoin Now the US dumping #Bitcoin The bottom is very close. It has always been when governments are selling $BTC
Also with US Gov FUD, Mt Gox FUD, most major airdrops finished, markets down, nvidia off highs, BTC has had every reason to go lower, and its still mostly held $60k. Negative news struggling to make a dent.
Ah … market just started to do good and here comes the American government ready to Dump their BTC 😂
Love this one https://t.co/x75C2MzMVK
Breaking: 9 minutes ago US Government sends 3940 $BTC to @Coinbase a day after getting approval to sell by Judge 👀 https://t.co/kQVwRFjt87 https://t.co/4AIv4FhGji
🚨BREAKING: US GOVT SENDS 4,000 $BTC ($244M) TO COINBASE - JUST ONE DAY AFTER JUDGE GRANTS APPROVAL TO DUMP
The US government just sent $240 million dollars in Bitcoin (4,000 $BTC) to Coinbase What happens next?
🚨 BIG BREAKING: US Gov 🇺🇸 sent 3,940 $BTC ($241M) on Coinbase! They're still HODLing 213,546 $BTC ($13B). What's cooking? 👀 https://t.co/SUNWV9FH3N
BREAKING: U.S. GOVERNMENT SENT OVER $240M WORTH OF $BTC TO @COINBASE PRIME
[𝕏] The U.S. government has transferred approximately 4,000 #BTC to #Coinbase, a day after receiving approval from a judge to sell the cryptocurrency $BTC $COIN
Breaking: US Government sends 3940 $BTC to @Coinbase a day after getting approval to sell by Judge 👀 https://t.co/kQVwRFjt87 https://t.co/2x8yRbAWco
Breaking: US Government sends approx. 4,000 $BTC to @Coinbase a day after getting approval to sell by Judge 👀 https://t.co/kQVwRFjt87 https://t.co/yfSPBLG6XH
Seems true lol US Gov sent 3.94K BTC to Coinbase Prime - to be handled by coinbase institutional there's typically two options here - OTC desks can auction off the BTC to clients (off market buyers) - open market auction (sold over time on the market) Link to US Gov wallet:… https://t.co/7NbTetKr2j https://t.co/WbC44F9CRn
US Government sends approx. 4,000 BTC to Coinbase a day after getting approval to sell by Judge h/t @ErgoBTC
Note that the US government wallets deposited 3,940 $BTC($241.22M) into #Coinbase Prime 5 minutes ago. The US government currently holds 213,546 $BTC($13.07B). https://t.co/CAc87E2xFa
Update: US Government Sends $240M BTC to Coinbase Prime The US Government just moved 3,940 BTC ($240M) to Coinbase Prime. This BTC was originally seized from narcotics trafficker Banmeet Singh, and forfeited at trial in January 2024. Transaction: https://t.co/hZ1CwqWCmF https://t.co/9t6k8Wdizq
BREAKING: U.S. GOVERNMENT SENT OVER $240M WORTH OF $BTC TO @coinbase PRIME https://t.co/7gmsWqCqpa
BREAKING: The US Government is possibly about to dump 4,000 $BTC after getting approval by the judge to sell it! They just sent it to Coinbase!
US Government sends approx. 4,000 BTC to Coinbase a day after getting approval to sell by Judge https://t.co/edqQFiaZOl
INTEL: US Government transferred 4,000 BTC seized from Silk Road on Coinbase Prime https://t.co/rSPW4ePAse
🚨 US GOVT JUST SENT 4,000 BITCOIN TO COINBASE
BWENEWS: US GOV has sent 4k BTC to coinbase bc1qrl0epuu42c7pvzhsrghy7qdkkw5xevazznaprq 方程式人工编辑: 美国政府已向 coinbase 发送 4k BTC bc1qrl0epuu42c7pvzhsrghy7qdkkw5xevazznaprq https://t.co/nvLPED1Vmm $BTC