US Government Transfers Seized FTX Assets to Coinbase, Totaling $984K

The US government continues to liquidate seized FTX and Alameda assets, sending them to Coinbase. The latest batch includes Chainlink (LINK), Aave (AAVE), Chiliz (CHZ), and Balancer (BAL), totaling around $984,000. This is part of a months-long pattern where the government has funneled millions in forfeited crypto into exchanges.

The assets originated from criminal forfeitures tied to the FTX fraud case. A federal judge ordered Sam Bankman-Fried to forfeit $11 billion, with recovered funds directed toward victim compensation. The U.S. Marshals Service manages the disposition of forfeited property for the federal government, and selected Coinbase Prime in 2024 to safeguard and trade its “Class 1” large-cap digital assets.

The transfers also signal that the release of FTX-linked assets into circulation is not slowing several years after the exchange’s collapse. Investors should distinguish between FTX's forfeiture wallets and assets controlled by the FTX bankruptcy estate, since the two are handled under different legal mandates.