Analysts call the $1.01B government Bitcoin transfer a custody shift, not a sale
BTC when published $82,398Now $80,595 ▼ −2.19% since it was published
A US government Bitcoin transfer on October 8, 2026, moved 12,267.02 BTC, worth about $1.01 billion, from a wallet linked to the 2016 Bitfinex hack seizure to Coinbase Prime. Despite the exchange destination, Galaxy Research and Arkham Intelligence interpreted the activity as custody consolidation—not a confirmed sale. Arkham Intelligence linked the source wallet to Bitcoin seized in the 2016 Bitfinex hack case. The October 8 transfer passed through several unlabeled addresses before arriving at deposits Arkham identified as belonging to Coinbase. The destination addresses connect to Coinbase Prime, which serves mainly as an institutional custody platform. The October 8 movement was the largest part of a broader series of government-linked transfers.
First reported by The Cryptonomist. This page is a short excerpt; the full text is theirs.
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