U.S. Government Transfers $288 Million in Crypto to Coinbase Prime

The U.S. government has made a significant move in the world of cryptocurrency, transferring $288.33 million worth of Bitcoin and Ether to Coinbase Prime, an institutional custody and trading platform.

According to blockchain security firm PeckShield, between July 10th and 17th, 2026, multiple wallets labeled as belonging to the U.S. government made 3,800.5 BTC and 30,000 ETH transactions into Coinbase Prime's deposit addresses. The total value of these transactions is approximately $288.33 million.

The Bitcoin transfer was valued at around $239 million during the time of the transaction, while the Ether was worth about $49 million. This move has sparked interest in the cryptocurrency community, as it raises questions about the government's intentions with these assets.

The U.S. Marshals Service selected Coinbase Prime to custody and trade large-cap digital assets held through federal asset-forfeiture programs in 2024. The transferred Bitcoin batch includes assets tied to separate federal cases, including holdings associated with the defunct BTC-e exchange and darknet drug trafficker Ryan Farace.