COIN - Uncle Sam On The Move: US Government Transfers Millions In Bitcoin To Coinbase | Benzinga
Wallets believed to be linked to the U.S. government have transferred a significant amount of cryptocurrency—3,940 Bitcoin valued at $241 million—onto Coinbase (NASDAQ:COIN).
What Happened: This transfer was detected shortly after the same researcher identified that the German government had moved 750 Bitcoin.
Governments often sell or auction off cryptocurrencies acquired through criminal investigations or asset seizures.
A notable example is billionaire Bitcoiner Tim Draper, who bought nearly 30,000 Bitcoin seized from the Silk Road darknet market by the U.S. Marshals Service in 2014.
Arkham Research tracked the ...