The U.S. government transferred $12.36 million in ETH, USDC and USDT to Coinbase Prime and one unlabeled address via six transactions on July 14. The transfers originated from a Department of Justice-controlled wallet linked to funds seized from the 2016 Bitfinex hack, according to Arkham Intelligence onchain data. The move follows Monday's transfer of roughly 3,941 BTC to Coinbase Prime, marking two consecutive days of activity from government wallets tied to past criminal seizures. The $12.36 million represents approximately 0.06% of the government's $21.22 billion tracked crypto portfolio.
US Government Executes Six Transactions on July 14
Tuesday's activity broke down into six separate transactions, all logged within the same short window. The sender in every case carries the label "U.S. Government: Bitf," Arkham's shorthand for a Department of Justice-controlled wallet linked to funds seized from the 2016 Bitfinex hack.
The largest transfer sent 5,939 ETH, worth $11.15 million, to Coinbase Prime. A second ETH transaction for $11.26 followed the same destination. USDT moved in a similar pattern: $296,710 to Coinbase Prime, paired with a $10 transaction to the same address.
USDC Sent to Unlabeled Address
USDC took a different path. The government sent $901,005 in USDC to an address beginning with 0x7D7C1C4c, one Arkham has not yet attached to a named entity. A $10 USDC transaction preceded it.
Each asset moved twice to its destination: once as a token amount of $10 or $11, then as the full sum. That pattern held across all three assets and both destinations. Sending a small amount first lets whoever controls the wallet confirm the receiving address is correct before committing the full balance.
Coinbase Prime Receives ETH and USDT
Coinbase Prime is an institutional custody and trading platform. Deposits there typically come before either a sale or a shift into custodial storage, since Prime serves as the standard on-ramp exchanges use for large trades on behalf of institutional clients.
The USDC transfer broke from that pattern. Rather than routing to Coinbase, it went to the unlabeled address, which Arkham has not yet identified.
Government Portfolio Holds $21.22 Billion in Crypto
The U.S. Government entity Arkham tracks across 618 addresses holds roughly $21.22 billion in crypto, up 3.75% over 24 hours. Bitcoin accounts for about $20.91 billion of that total, or roughly 98.5% of the entire portfolio.
Against that backdrop, Tuesday's $12.36 million transfer represents about 0.06% of total holdings.
Beyond bitcoin, the government's tracked holdings include $145.25 million in USDT, $48.42 million in wrapped BTC, $41.86 million in ether, and smaller positions in BNB, USDC, DAI and wrapped ETH. Further down the list, the portfolio includes 3,692 ZEC worth $2.03 million, along with smaller SHIB, GNO, and RLC balances.
The presence of wrapped and DeFi-linked tokens, along with a privacy coin like ZEC, points to a portfolio built from many separate seizure cases rather than a single coordinated treasury. Seized wallets typically reflect whatever assets the original target held, which explains the mix of a major bitcoin position sitting alongside niche tokens.
FAQ
What did the US government transfer on July 14?
The U.S. government transferred $12.36 million in ETH, USDC and USDT via six transactions on July 14. The transfers originated from a Department of Justice-controlled wallet linked to funds seized from the 2016 Bitfinex hack.
Where did the US government send the crypto?
Coinbase Prime received the ETH and USDT transfers. The government sent $901,005 in USDC to an unlabeled address beginning with 0x7D7C1C4c, which Arkham Intelligence has not yet identified.
How much crypto does the US government hold?
The U.S. government entity tracked by Arkham Intelligence across 618 addresses holds roughly $21.22 billion in crypto. Bitcoin accounts for about $20.91 billion of that total, or roughly 98.5% of the entire portfolio.
