US government moves over $560M in seized FTX-linked crypto to Coinbase Prime
Transfers on October 7 included Bitcoin, USDT and BNB, renewing questions about whether the government plans to sell
US government wallets moved more than $560 million in seized digital assets on October 7, 2026, with Coinbase Prime on the receiving end. The haul included Bitcoin, Tether’s USDT and a slice of BNB, and part of it traces directly to the FTX and Alameda Research forfeiture cases.
What moved, and where it went
The total came to approximately $566 million across several transfers. The largest chunk was roughly $470 million in BTC and USDT sent to Coinbase Prime.
A separate transfer of $94.15 million in USDT was tied explicitly to forfeited funds from the FTX and Alameda cases.
On the Bitcoin side, around 833.6 BTC landed directly in Coinbase Prime addresses.
Approximately 40,285 BNB, valued at about $31.63 million, moved from FTX and Alameda seizures to intermediary wallets.
A familiar route for seized crypto
Since 2024, Coinbase Prime has served as the designated custodian for all US Marshals Service transfers of seized digital assets. It offers custody and trading services for large holders.
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In June 2026, about $984,000 in LINK and AAVE tied to FTX was routed to the platform.
By early 2026, the FTX estate had distributed over $7.6 billion to creditors, and proceedings were still ongoing.
Will the government sell?
A 2025 executive order limits the sale of certain reserved assets, including Bitcoin earmarked for a Strategic Bitcoin Reserve. Whether the 833.6 BTC in this batch falls under that restriction is the detail that would change the math.
The 40,285 BNB deserves particular attention. At about $31.63 million, it is small next to the Bitcoin and USDT, but BNB markets can be thinner than Bitcoin’s, so a forced sale could leave a bigger footprint relative to its size.
For FTX creditors, every forfeited dollar that gets converted and routed through the right legal channels is potentially another dollar toward making victims whole, adding to the more than $7.6 billion the estate had already paid out by early 2026.