The U.S. government has transferred $100 million worth of cryptocurrencies from its secure digital wallets, sparking speculation about a potential sale. According to blockchain intelligence firm Arkham, the government moved $71.6 million in Bitcoin (BTC) and $31.63 million in Binance Coin (BNB) to addresses linked to Coinbase Prime in recent days.
The Bitcoin involved appears to be part of forfeited coins seized from the Bitfinex hack case, while the BNB originated from assets seized from the bankrupt Alameda Research. The government still holds $27.5 billion in cryptocurrencies, all of which were obtained through law enforcement actions.
Transfers of this nature often raise concerns about an imminent sale, though the government has not confirmed any plans to sell the moved BTC and BNB. As of October 7, Bitcoin is trading at $83,100.