U.S. Government Transfers Millions in Seized FTX Crypto Holdings

The U.S. government has moved significant amounts of cryptocurrency seized from high-profile legal cases, including the collapse of FTX and Alameda Research, to new wallets. This development follows ongoing efforts to manage assets obtained from legal battles involving cryptocurrency mismanagement and fraud.

Massive Crypto Transfers Reported

Data from Arkham Intelligence on December 3, 2024, revealed the movement of multiple cryptocurrencies tied to the FTX-Alameda case. Among the assets transferred was 54.8 billion Shiba Inu (SHIB), valued at $1.55 million, followed by $17.2 million in Ethereum (ETH) sent to a different wallet.

The transfers didn’t stop there. Additional assets moved include:

• 13.5 million Binance USD (BUSD)

• $36,070 of Axie Infinity (AXS)

• $106,430 of Compound (COMP)

• $93,950 of Numeraire (NMR)

• $50,710 of Wrapped Bitcoin (WBTC)

• $47,350 of Yearn Finance (YFI)

These transactions are part of an ongoing effort by the U.S. government to secure and potentially liquidate assets tied to cryptocurrency fraud and mismanagement cases.

Bitcoin Among Seized Assets

The government has frequently moved large quantities of Bitcoin over the past year. In a recent transfer, nearly $2 billion in Bitcoin was moved to new wallets. One wallet received $969 million in Bitcoin, while another received $949 million.

Additionally, approximately $1 billion worth of Bitcoin was transferred from the 33Tg wallet to Coinbase Prime in separate transactions. These funds, originally seized in the Silk Road case in November 2022, have been managed as part of the government's efforts to consolidate its digital holdings.

U.S. Government Crypto Holdings Reach New Heights

As of now, the U.S. government holds an estimated $19.48 billion in digital assets. Bitcoin, Ethereum, USDT, WBTC, and BNB constitute the largest portions of these holdings.

Conclusion

The U.S. government’s ongoing management of seized cryptocurrencies underscores its active role in navigating the complex legal and financial issues surrounding digital assets. These movements may also hint at future plans to liquidate or repurpose these funds, further impacting the cryptocurrency market.