US government moves $470M in seized Bitcoin and Tether to Coinbase Prime

The US government has moved $470 million in Bitcoin and Tether from seized funds to Coinbase Prime, according to a post on X tracking the activity. The appearance of Tether in the mix makes this move stand out. Earlier reported government transfers did not include USDT, even though government wallets hold significant amounts of the stablecoin. A pattern of transfers to Coinbase Prime Coinbase Prime is the institutional platform that the US Marshals Service (USMS) selected in July 2024 to handle custody and trading of seized digital assets. The Marshals Service is the agency responsible for managing assets forfeited in federal criminal cases. On-chain data from Arkham Intelligence has tracked several earlier shipments. In mid-July 2026, approximately $288-297 million in seized assets landed on Coinbase Prime. Most of that batch was Bitcoin: between 3,800 and 3,941 BTC, valued at $244-250 million at the time. Some of those wallets were tied to cases involving Ryan Farace and Brian Krewson. On October 7, 2026, roughly 833.6 BTC, valued at $71.6 million, went to Coinbase Prime addresses. About 40,285 BNB, worth approximately $31.6 million, moved in the same window. Both were part of a ...