U.S. government moves Ethereum to Coinbase; Incoming ETH sell-off?
The United States government has transferred a notable amount of Ethereum (ETH) to cryptocurrency exchange Coinbase, fueling speculation about a potential sell-off for the second-ranked digital currency. Specifically, on July 7, 2025, a wallet labeled “US Government: FBI” completed a transfer of approximately 86.56 ETH, valued at around $219,000 at the time, to Coinbase Prime, according to data provided by Arkham Intel. U.S. government ETH transfer to Coinbase. Source: Arkham The shift followed a small $10 test transaction sent just minutes earlier, a common precursor to larger liquidations, custody transfers, or internal accounting moves. Arkham noted that the wallet still holds over 100,000 ETH, originally seized from NFT scammer Chase Senecal in October 2022. Until this transfer, the address had remained dormant since the seizure was made. The deposit is being closely monitored, as it appears to indicate that the government may be preparing to sell part of...