U.S. Government liquidates remaining seized FTX/Alameda assets, transferring $9.3M ETH to Coinbase Prime and smaller holdings to fresh wallets.
Regulation & Gov ·
The U.S. Government has liquidated the remaining holdings in a wallet containing assets seized from Alameda Research and FTX. The transfer sent 4,820 ETH valued at $9.28 million to Coinbase Prime, while distributing 54.89 billion SHIB ($235.6K), 631.74K POWR ($27.9K), and 1.06 million AERGO ($22.1K) to newly created addresses. The source government wallet now carries a zero balance following these movements.
The liquidation follows a pattern of the U.S. Government methodically converting seized cryptocurrency into cash or custody arrangements. Ether, as the largest position by value, moved directly to Coinbase Prime, a qualified custodian. Smaller altcoin positions were sent to separate fresh wallets, a typical segregation approach for lower-liquidity assets. The choice to route the major holding through a major exchange custody platform suggests preparation for potential conversion or sale.
What remains unclear is the timeline and mechanism for converting the altcoin holdings into fiat, any constraints placed on those assets by the courts, or whether additional Alameda and FTX holdings remain in other government wallets pending liquidation.