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U.S. Government Moves 2.44 Bitcoin in Seized Assets to Coinbase Prime

U.S. Government Moves 2.44 Bitcoin in Seized Assets to Coinbase Prime

According to Arkham data, the U.S. government sent 2.438 BTC in two transactions to Coinbase Prime, with the funds identified as Bitcoin previously seized from Glenn Olivio.

BTC

Summary

Arkham data shows the U.S. government transferred a total of 2.438 BTC to Coinbase Prime in two transactions executed about eight hours before the report. The transfers consisted of 0.46 BTC and 1.979 BTC. The Bitcoin was identified as seized assets previously taken by law enforcement from Glenn Olivio. No further reason for the transfer or subsequent disposition of the funds was provided in the report.

Terms & Concepts
  • Coinbase Prime: An institutional digital asset platform that provides custody, trading, and other execution services for large clients.
  • Seized assets: Funds or property taken by authorities through legal enforcement action and held under government control.
  • BTC: The ticker symbol for Bitcoin, the native cryptocurrency of the Bitcoin network.