US Government Moves $12M in Crypto Assets Through Coinbase Prime

The US government has transferred $12.36 million in various digital assets to Coinbase Prime and another address, according to onchain data from Arkham Intelligence.

The transfers were made on July 14, with six separate transactions involving ether (ETH), USD Coin (USDC), and Tether (USDT).

Coinbase Prime received the majority of these funds, including $11.15 million in ETH, $296,710 in USDT, and a smaller amount of USDC.

The remaining USDC was sent to an unknown address, which Arkham has not yet linked to a specific entity.

These transfers follow a similar movement on July 13, when the government moved nearly 4,000 BTC to Coinbase Prime, worth around $250 million at the time.