US government-linked wallets moved a combined $103 million in crypto assets within roughly nine hours on October 7, 2026, according to on-chain monitoring service Lookonchain. Bitcoin to Coin
US government-linked wallets moved a combined $103 million in crypto assets within roughly nine hours on October 7, 2026, according to on-chain monitoring service Lookonchain.
The government-related address transferred 833.6 $BTC worth $71.56 million and 40,285 $BNB worth $31.63 million, totaling roughly $103 million in crypto assets. The two transfers followed very different paths. On-chain data shows the Bitcoin was sent directly to Coinbase Prime, while the BNB moved through multiple transactions before settling at address 0xBE7...81E.
Coinbase Prime is the exchange's institutional arm. US federal agencies have previously used the platform to manage seized digital assets, meaning such transfers are more akin to custody adjustments than direct sell signals. The routing of the BNB through several intermediate addresses before reaching a final destination adds a layer of uncertainty about its ultimate purpose.
Despite the size of the transfer, it represents a small fraction of the government's overall crypto position. The wallet retains approximately $28 billion in cryptocurrency holdings, primarily consisting of around 324,000 $BTC valued at roughly $27.7 billion.
Beyond Bitcoin, the US government also holds $126 million in USDT, $63 million in WBTC, and $31 million in BNB, as well as smaller positions in various other cryptocurrencies.The vast majority of this Bitcoin was obtained through law enforcement seizures and forfeitures from cases such as Silk Road and the Prince Group.
Transfers of this kind have become routine for on-chain observers. Treasury Secretary Scott Bessent previously stated that the government would not purchase Bitcoin directly for the Strategic Bitcoin Reserve but would retain confiscated $BTC rather than sell it. Whether the latest movements represent custody consolidation, legal proceedings, or preparation for disposal remains unclear. No official explanation has been published.
Sources:Phemex: US Government Moves $103M in Bitcoin and BNB from WalletArkham Intelligence: US Government Bitcoin Holdings 101CryptoSlate: US Government Coinbase Transfer and Bitcoin Reserve Rules
