On-chain transfers of seized cryptocurrency often travel faster than official explanations. On 7 October 2026, CoinDesk reported—citing blockchain intelligence firm Arkham—that wallets labelled as linked to the U.S. government moved more than US$100 million in crypto on Tuesday, 6 October 2026, including about US$71.6 million in bitcoin and about US$31.6 million in BNB. [1]
A sale has not been confirmed. A move toward an exchange deposit address is not proof that coins were sold.
What CoinDesk recorded on the bitcoin side
Per CoinDesk’s Arkham-based account: [1]
- Government-labelled wallets sent 833.599 BTC (about US$71.6 million at the time) to two addresses Arkham does not label.
- Within hours, both addresses forwarded the coins to addresses Arkham labels as Coinbase Prime deposit addresses.
- Of that bitcoin, about 568.7 BTC came from a wallet Arkham labels as Potapenko/Turogin forfeited funds, and about 264.9 BTC from coins seized in the Bitfinex hack case.
Wallet attribution here is Arkham’s labelling as reported by CoinDesk, not a contemporaneous official Treasury or DOJ press statement reproduced in the piece. [1]
What about the BNB transfer?
A separate government-labelled wallet, CoinDesk says, sent about 40,285 BNB (about US$31.63 million) to an unlabelled address, which then forwarded the full amount to a second unlabelled address. That BNB is described as coming from assets seized from Alameda Research. [1]
Holdings context—and why “sale” stays unconfirmed
CoinDesk reports that the government still holds about US$27.5 billion in seized cryptocurrency (all from enforcement actions, per that piece) and has not used taxpayer money to make new purchases. [1]
The same article notes that such transfers often spark fears of an impending sale, then states that does not appear to be the case here. It quotes market commentator Jose Rosell on X that a transfer is not the same as a sale and that, under a March 2025 executive order, bitcoin forfeited to the government is meant to be held in a Strategic Bitcoin Reserve. That is commentary and trade-press framing, not confirmation of the government’s intent for this specific batch. [1]
For TSN’s purposes the binding caveat is simpler: sale unconfirmed. Neither Arkham labels nor a Coinbase Prime deposit path equals a completed disposal.
What this does not prove
- That the 833.599 BTC (or the BNB) has been sold, auctioned or converted to cash. [1]
- That Arkham’s government / Coinbase Prime labels are error-free; they are a third-party intelligence firm’s tags as relayed by CoinDesk. [1]
- That residual government holdings of ~US$27.5bn are a single audited inventory figure; CoinDesk attributes the stock to Arkham. [1]
- Any forecast for bitcoin or BNB prices from the transfer.
No investment advice is offered here.
The Bottom Line
CoinDesk, citing Arkham, reported that U.S. government-labelled wallets moved 833.599 BTC (~US$71.6m) on 6 October 2026 via unlabelled hops into Coinbase Prime deposit addresses, plus a large BNB transfer from Alameda-linked seizures. Record the move; keep the status clear: a sale has not been confirmed.
Sources
- CoinDesk Markets (Omkar Godbole), U.S. government moves over $100 million in BTC and BNB; sale hasn’t been confirmed — 7 October 2026 (trade press, citing Arkham) — https://www.coindesk.com/markets/2026/10/07/u-s-government-moves-over-usd100-million-in-btc-and-bnb-a-sale-hasn-t-been-confirmed
, citing Arkham, reported US government-labelled wallets moved 833.599 BTC (~$71.6m) on 6 Oct toward Coinbase Prime deposit addresses, plus ~40,285 BNB. A sale has not been confirmed. Wallet labels are Arkham’s, not an official statement.){kind=link}