Wallets linked to the U.S. government shifted about USD 103 million worth of Bitcoin and BNB, with the Bitcoin heading to Coinbase Prime, based on data from blockchain analytics tracker Lookonchain.
The transfers on October 7 highlighted how federal digital asset holdings are managed. Because Coinbase Prime offers both custody and trading functions, the destination address by itself does not verify that a sale took place.
Bitcoin Reaches Coinbase Prime as BNB Moves Separately
Drawing on monitoring data from EmberCN, Lookonchain reported that government-associated addresses moved 833.6 BTC valued at roughly USD 71.56 million alongside 40,285 BNB worth about USD 31.63 million. Combined, the tracked assets amounted to approximately USD 103.19 million.
The two cryptocurrencies took different paths. While the Bitcoin landed at Coinbase Prime, the BNB went through multiple transfers before settling at an address labeled 0xBE7…81E. Lookonchain did not identify the owner of that final wallet.
The figures provided represent asset valuations at the time they were monitored. They indicate the worth of the moved tokens instead of proceeds yielded from a finalized sale to a buyer.
On-chain records track transfers between addresses without indicating whether the account holder plans to hold the funds, move them again, or trade them. Depositing tokens into a platform that supports trading can also be done strictly for custody.
Coinbase Prime Provides Federal Custody and Trading Services
In 2024, the U.S. Marshals Service chose Coinbase Prime to manage specific large-scale digital assets under its control. Coinbase noted that the agreement encompassed both custody and advanced trading capabilities for assets overseen on behalf of federal law enforcement agencies.
The firm referred to these managed holdings as the agency’s “Class 1” digital assets. This partnership offers background for transfers directed to Coinbase Prime, though the prior contract does not clarify the intent behind the October 7 Bitcoin transfer.
Following these transactions, Lookonchain calculated that wallets tied to the government retained roughly USD 28 billion in digital assets. Bitcoin made up the bulk of that total, with approximately 324,000 BTC estimated at around USD 27.7 billion.
These figures stem from blockchain tracking estimates rather than an official federal balance sheet. The moved Bitcoin accounted for roughly 0.26% of the tracked BTC reserve, while the combined Bitcoin and BNB transfers represented about 0.37% of the estimated total portfolio.
Strategic Bitcoin Reserve Rules Differ from Other Assets
On March 6, 2025, President Donald Trump enacted Executive Order 14233, creating a Strategic Bitcoin Reserve alongside a separate United States Digital Asset Stockpile. This structure separates qualifying forfeited Bitcoin from other cryptocurrencies held by the government.
The directive mandates that the government keep Bitcoin placed into the reserve. In contrast, it places the Treasury secretary in charge of overseeing the non-Bitcoin stockpile according to existing laws. Tags on government-related wallets do not automatically indicate which assets have been placed into either account.
The regulatory guidelines also maintain exceptions for judicial directives, legal obligations, and specific agency determinations. These allow for returning funds to verified crime victims, backing law enforcement activities, and distributing assets to state or local policing partners.
Furthermore, the order instructs agencies to catalog the digital assets they hold, providing specifics regarding custodial accounts required to execute transfers. Its terms separate assets designated for federal retention from holdings bound by legal duties or restitution to victims.
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