on-chain movement
Why did the US government send $71M in Bitcoin to Coinbase Prime?
0Importance
closedStatus
4News media
- Published
- Updated
Wallets linked to the U.S. government moved 833.599 BTC to Coinbase Prime deposit addresses and shifted 40,285 BNB through other wallets. The transfers were valued at about $103.19 million in total, and the blockchain activity did not confirm a sale.
Key claims & sources
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Wallets linked to the U.S. government moved 833.599 BTC to Coinbase Prime deposit addresses and routed 40,285 BNB through unlabeled or fresh wallets on Tuesday.
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The transfer was valued at about $103.19 million overall, including roughly $71.56 million in bitcoin and about $31.63 million in BNB.
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The BTC’s status under the Strategic Bitcoin Reserve was described as unclear.
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Government-labeled wallets sent the bitcoin to Coinbase Prime deposit addresses while the BNB was shuffled separately, and no explanation for the move was given.
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Blockchain data does not confirm that a sale took place or that a sale order was placed.
Market reaction i
Bitcoin fell 0.8% in the 4 hours after the first headline, after rising 0.3% in the 2 hours before.
$84,302
price at the headline
+0.3%
2 h before
-0.8%
4 h after
-1.5%
12 h after
First headline
48 prices, one every 30 minutes
Coverage timeline
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
first
crypto.news
scoop
Oct 7 06:21
Breaks the event: $103M and $71M
+3 h 44 m
Unchained
adds
Oct 7 10:04
Unchained
adds
Adds $31.6M; brings into the story: BNB, BTC, with quotes
+8 h 34 m
The Coin Republic
context
Oct 7 14:55
The Coin Republic
context
Its angle: cryptocurrency, approximately, fascinating; with quotes
+10 h 36 m
Decrypt
echo
Oct 7 16:56
Decrypt
echo
No new facts: confirmed, shuffled, labeled
Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 38 days ago | BNB Chain crosses $1B in tokenized stocks, ETFs as market hits $3.7B event | 1 actors in common · 2 news media |
| 40 days ago | Tokenized Stock Market Cap Surges as Avalanche Leads Growth event | 1 actors in common · 5 news media |