The United States government moved 3,940 BTC (valued at around $244 million) and 30,014 ETH (worth approximately $53 million) to Coinbase Prime, according to data from Arkham Intelligence reported on July 13, 2026. The bitcoin originated from assets seized in cases connected to convicted dark-web dealer Ryan Farace and the defunct BTC-e exchange, while the ETH was linked to Brian Krewson, implicated in a crypto custody and money-laundering scheme. The transfers have raised questions about whether the move contradicts President Donald Trump's March 2025 executive order establishing a Strategic Bitcoin Reserve with a no-sale pledge for deposited government-owned BTC.
US Government Transfers $297M in Seized Crypto to Coinbase Prime
Wallets linked to the United States government transferred a total of $297 million in cryptocurrency to Coinbase Prime. The transfer included 3,940 BTC valued at around $244 million and 30,014 ETH worth approximately $53 million at the time of the transaction. Arkham Intelligence provided the wallet data showing these movements.
The moved bitcoin came from assets seized in cases connected to Ryan Farace, a convicted dark-web dealer, and the defunct BTC-e exchange. The ether was linked to Brian Krewson, who was implicated in a crypto custody and money-laundering scheme.
Coinbase Prime offers institutional trading and execution services, but the platform also provides custody, financing, and other infrastructure. The transfer alone does not confirm whether the US government liquidated the crypto assets.
Trump Executive Order Established Strategic Bitcoin Reserve in March 2025
US President Donald Trump signed an executive order in March 2025 establishing a Strategic Bitcoin Reserve. The order promised that no government-owned BTC, including seized funds, would be sold if they are deposited into the reserve.
The executive order's no-sale requirement specifically applies to funds that have been transferred into the Strategic Bitcoin Reserve. The wording does not necessarily prohibit every government offloading of seized BTC.
Executive Order Permits Crypto Sales Under Specific Legal Exceptions
The March 2025 executive order provides exceptions allowing government-controlled cryptocurrencies to be returned to verified victims, used for law-enforcement purposes, shared with state or local authorities, sold under a court order, or released to satisfy existing statutory obligations.
The key unanswered questions are whether the transferred funds had formally entered the reserve and whether they remain subject to restitution, forfeiture, or other legal requirements. Even if the US government sold the $297 million in bitcoin and ether, it would not necessarily constitute a violation of the rules if the assets had not been deposited into the Strategic Bitcoin Reserve or fell under one of the documented exceptions.
FAQ
What did the US government transfer to Coinbase Prime on July 13, 2026?
The US government transferred 3,940 BTC (valued at around $244 million) and 30,014 ETH (worth approximately $53 million) to Coinbase Prime, totaling $297 million. The bitcoin came from seizures related to Ryan Farace and BTC-e, while the ether was linked to Brian Krewson's case.
Does Trump's Strategic Bitcoin Reserve executive order prohibit all government bitcoin sales?
No. The March 2025 executive order's no-sale requirement applies specifically to funds deposited into the Strategic Bitcoin Reserve. The order allows exceptions for returning crypto to verified victims, law-enforcement purposes, court orders, and statutory obligations.
