The U.S. government has just sent 3,941 BTC (~$244 million) and 30,007 ETH (~$53.9 million) to Coinbase. The total value of this transfer amounts to nearly $297 million, sent directly into Coinbase Prime.

When a large amount of Bitcoin and Ethereum from U.S. government wallets flows onto exchanges, traders’ overall sentiment usually leans toward caution due to concerns about selling pressure. However, moving it to Coinbase Prime (an enterprise-focused platform) at this time often falls into two scenarios:
🔹Reorganization and custody management: Move assets from old seized wallets to professional custody accounts for centralized management under new regulations.
🔹Sell to reduce load according to a roadmap: Execute OTC deals through major financial institutions to minimize direct impact on the spot market order book, instead of dumping outright and causing price crashes.
This move is also happening amid shifting discussions around laws governing national strategic reserve assets, so large players closely track every small fluctuation from government wallets to gauge the direction of the price path.