US government moves $984,000 in seized FTX, Alameda assets to Coinbase

The U.S. government liquidated $216,000 of cryptocurrencies taken from FTX/Alameda on June 10, adding to roughly $984,000 of crypto asset transfers that day, according to the Onchain Lens blockchain monitor. The transfers continue a months-long pattern in which the U.S. government has funneled millions in forfeited crypto into exchanges.

The U.S. government keeps sending seized FTX and Alameda crypto to Coinbase

The latest batch included Chainlink (LINK), Aave (AAVE), Chiliz (CHZ), and Balancer (BAL), Onchain Lens reported. Earlier the same day, the government had sent 98,591 LINK tokens worth $768,000 to Coinbase from the same seized wallet cluster, according to a separate post by the tracker.

Government-linked wallets have been active for weeks. On May 29, approximately $800,000 in assets including Bitcoin (BTC), Basic Attention Token (BAT), Yearn Finance (YFI), and 0x (ZRX) were moved to new wallets and to Coinbase, per Arkham Research.

Two days before that, $1.9 million in tokens (including UNI, RNDR, SAND, MASK, AXS, and APE) plus $2.656 million in DAI stablecoin went to Coinbase from the same FTX/Alameda seizure pool.

On May 19, another tranche hit the exchange: 319 ETH (worth $673,000 at the time) alongside $933,774 in USDT, DAI, and USDC stablecoins, according to the same tracker.

The DOJ has been liquidating FTX’s seized portfolio since November 2025

The pace picked up well before May 2026. On December 11, 2025, the U.S. Department of Justice sent a wallet balance comprising 1,934 WETH worth $6.43 million and $13.58 million worth of BUSD into a new address, Onchain Lens reported at the time.

A month before that, during a span of just six hours, 15.1 million TRX worth $4.2 million, 545,095 FTT worth $348,940, and other amounts of KNC and FET left government custody.

The on-chain activity points to a planned, deliberate reduction in the alternative cryptocurrency portfolio that the DOJ seized in connection with the FTX fraud case. The assets span dozens of tokens across multiple chains, and Coinbase appears to be the primary off-ramp.

The holdings originate from criminal forfeitures tied to the FTX fraud case. Once Sam Bankman-Fried was convicted in 2023, U.S. authorities filed for forfeiture of various digital assets related to both FTX and Alameda Research.

A federal judge later ordered SBF to forfeit $11 billion, with recovered funds directed toward victim compensation. Under federal forfeiture procedures, such property can be sold, with the value transferred into the government forfeiture account.

In certain cases, a portion of the funds may be used to compensate victims. The U.S. Marshals Service generally manages the disposition of forfeited property for the federal government, and selected Coinbase Prime in 2024 to safeguard and trade its “Class 1” large-cap digital assets.

Thin altcoin markets feel the pressure of every transfer

Large sell orders from the U.S. government’s wallet matter in thin altcoin markets, because coins such as CHZ, BAL, and RSR have small daily trade volumes. Selling even six figures’ worth of tokens can move the order books.

On June 10, LINK, which has better liquidity than most altcoins in the cluster, absorbed the $768,000 Coinbase deposit without visible disruption.

The transfers also signal that the release of FTX-linked assets into circulation is not slowing several years after the exchange’s collapse. Investors should distinguish between FTX’s forfeiture wallets and assets controlled by the FTX bankruptcy estate, since the two are handled under different legal mandates.

The bankruptcy estate liquidates its assets to repay creditors, while the government continues disposing of confiscated crypto from various criminal cases.

As Cryptopolitan reported in May, the U.S. government’s total crypto holdings sat at $27.06 billion across 610 wallet addresses, dominated by 328,361 BTC worth roughly $26.64 billion, suggesting additional altcoin transfers may follow.

Individuals monitoring U.S. government wallets on Arkham Research and similar trackers have flagged each batch in real-time, using the movements as a short-term signal for affected tokens.

Next step for any remaining crypto seized from FTX, Alameda

The government has not published a liquidation plan for the remaining FTX/Alameda assets. Given the weekly or bi-weekly transfer pattern since November 2025, more Coinbase deposits are likely.

Trackers identifying these wallets, including those labeled by Onchain Lens and Arkham Research, are the cleanest way to monitor the next batches.

Specifically, the addresses tagged in recent transfers are 0x9359…8c79 and 0x9aca…5cb0.