The U.S. government transferred over $100 million in Bitcoin and BNB on Tuesday, according to Arkham data. The movement included 833.6 BTC, valued at approximately $71.6 million, and 40,285 BNB, worth $31.63 million. Part of the Bitcoin was sent to Coinbase Prime, though the government has not confirmed if a sale is intended.
The Bitcoin originated from two distinct sources. About 568.7 BTC were linked to the HashFlare mining service, operated by Sergei Potapenko and Ivan Turõgin, which generated over $577 million in sales between 2015 and 2019. The remaining 264.9 BTC were connected to the 2016 Bitfinex hack involving Ilya Lichtenstein.
The BNB tokens, totaling $31.63 million, were traced to assets seized from Alameda Research, the trading firm associated with the FTX exchange. While Coinbase Prime serves as a custodian for the government, the exact purpose of these transfers remains undisclosed.
Current regulations impact how these assets are managed. A March 2025 executive order established a Strategic Bitcoin Reserve, prohibiting the sale of forfeited Bitcoin held within it. Meanwhile, the Treasury may only release BNB for specific purposes, such as victim restitution or legal requirements.
As of September, Arkham estimates total U.S. government holdings at approximately 325,000 BTC, valued at roughly $27 billion. This makes the United States the largest government holder of Bitcoin, significantly exceeding the holdings of the United Kingdom and El Salvador.
