The United States government has transferred nearly $300 million in bitcoin and ether to Coinbase Prime, sparking speculation that Washington might be preparing to sell some of its crypto holdings despite President Donald Trump’s earlier promise not to sell seized bitcoin. On July 13, 2026, wallets linked to the US government moved 3,940 BTC (worth about $244 million) and 30,014 ETH (approximately $53 million) to the exchange, according to blockchain analytics firm Arkham Intelligence. The total value of the transfer was $297 million.
Origin of the Seized Assets
The bitcoin involved in the transfer originated from assets seized in cases connected to convicted dark-web dealer Ryan Farace and the defunct BTC-e exchange, while the ether was linked to Brian Krewson, who was implicated in a crypto custody and money-laundering scheme. Although moving funds to Coinbase Prime often signals a potential sale, the platform also offers custody, financing, and other services, so the transfer alone does not confirm that the government has liquidated the crypto.
Trump's Strategic Bitcoin Reserve and the No-Sale Promise
In March 2025, President Trump signed an executive order establishing a Strategic Bitcoin Reserve, which included a pledge that no government-owned bitcoin, including seized funds, would be sold if deposited into the reserve. However, the order’s no-sale requirement applies specifically to funds that have been formally transferred into the reserve. It also provides exceptions for returning crypto to verified victims, using it for law enforcement, sharing with state or local authorities, selling under a court order, or releasing to satisfy statutory obligations.
Potential Implications
Even if the US government has sold the transferred bitcoin and ether, it would not necessarily violate the executive order, as the funds may not have entered the reserve or may still be subject to restitution or forfeiture proceedings. As of press time, it remains unclear whether the transferred assets had been formally deposited into the Strategic Bitcoin Reserve or whether they are still tied to legal requirements. The move has reignited debate over the government’s crypto policy and its commitment to Trump’s earlier pledge.