A U.S. government-linked wallet transferred approximately $297 million in Bitcoin and Ethereum to Coinbase Prime on Monday.
The transaction included 3,940 BTC valued at roughly $244 million. It also contained 30,007 ETH worth approximately $53 million.
Authorities seized the digital assets through criminal cases involving the defunct BTC-e exchange and individuals Ryan Farace and Brian Krewson.
While exchange transfers often precede a sale, the government has not confirmed any liquidation. Coinbase Prime provides institutional services beyond trading, including asset custody and financing.