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- U.S. moved $34,800 in seized LINK, UNI, and CRO tokens to Coinbase Prime.
- Arkham linked the crypto transfer to convicted money launderer Brian Krewson.
- The Coinbase Prime transfer raised sale questions, but no liquidation was confirmed.
The U.S. government moved about $34,800 in seized cryptocurrency to Coinbase Prime, drawing attention from traders who monitor official wallets. Arkham Intelligence flagged the transfer soon after it occurred, though the movement did not confirm any sale.
The transfer included Chainlink, Uniswap, and Cronos tokens. Arkham linked the assets to funds seized in a criminal case involving convicted money launderer Brian Krewson.
According to Arkham data, the wallet moved 2,466 UNI worth about $8,410. It also sent 1,589 LINK valued at nearly $15,703 and 152,925 CRO worth around $10,689.
Coinbase Prime Receives Seized Case Assets
The assets were sent to Coinbase Prime, an institutional platform used for custody and trading services. Government agencies and large financial clients have used such platforms to manage digital assets.
Arkham posted details of the movement on X. It said the U.S. government was moving funds seized from a cocaine-linked money laundering case.
The firm also questioned whether the transfer meant the government was preparing to sell crypto. However, the transaction alone does not prove that liquidation has started.
Government crypto transfers can happen for several reasons. They may involve custody updates, internal wallet management, legal processing, or preparation for a future sale under court procedures.
Government Wallets Draw Market Attention
Market participants often track wallets linked to public agencies. Large deposits to trading platforms can sometimes raise concerns about possible selling pressure.
In this case, the transfer was small compared with the government’s broader crypto holdings. Arkham data shows the U.S. government holds about $26.65 billion in digital assets.
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Bitcoin makes up most of that portfolio. The government controls about 328,361 BTC worth roughly $26.24 billion, according to Arkham’s figures.
Ethereum ranks far behind Bitcoin in the reported holdings. Government data reveals that the government has approximately 62,756 ETH worth close to $143 million.
The tokens moved to Coinbase Prime came from the Brian Krewson case. Krewson is serving time for helping launder money linked to drug trafficking networks.
Seized Crypto Awaits Legal Review
Those funds were seized in connection to that investigation. Seized cryptocurrency is usually stored in secure wallets until legal proceedings decide its future use.
Seized assets may be auctioned or sold by a court order. In the meantime, agencies are allowed to transfer money from one wallet or custodial account to another for administrative purposes.
The recent move comes after other recent moves in government-affiliated crypto wallets. Arkham also reported there was activity involving Glenn Olivio, a suspected anabolic steroid supplier.
That purchase was for approximately $7,630 in Ethereum. Arkham said the government had also moved about $177,000 in Bitcoin linked to the same case about three weeks earlier.
Government departments and agencies are still confiscating crypto used in frauds, ransomware, drug syndicates, and more. These assets typically stay in custody until legal proceedings are done.
The Coinbase Prime transfer is still an important event to monitor for traders. However, the blockchain movement is not an indication of sales, and no liquidation was verified in Arkham’s report.
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