The U.S. government is back in the news in the crypto world. This time, it’s not Bitcoin, but Ethereum. On July 7, 2025, blockchain data reported a wallet associated with the FBI transferring 86.56 ETH, worth approximately $219,450, to Coinbase Prime.
The transaction was completed on the Ethereum network just moments ago, around 16:49 UTC. The ETH was moved from a wallet associated with the U.S. Government’s FBI division (address starting with 0xC55), and the recipient was Coinbase’s institutional deposit address.
This type of action normally indicates a potential future sale because government-held crypto tends to be sold off through exchanges such as Coinbase. The quantity is not particularly big in terms of the market. But it does seem like the government might be readying themselves to sell crypto assets bought through legal means or seizures.
These deposits would sometimes have an impact on short-term market mood. Amid such selloff concerns, Ethereum price traded at $2,529.03, down 0.85% in the last 24 hours. It has a market capitalization of $305.29 billion, down 0.79% on the day.
Something similar happened last month when the U.S. government transferred 3,940 BTC, worth over $240 million, to a Coinbase Prime address, sparking speculation of a potential sell-off. The Bitcoin was originally seized from Silk Road drug trafficker Banmeet Singh and was forfeited in January 2024 following his conviction.
Also Read: US Govt to Reveal Crypto Holdings: Will XRP, SOL, ADA Be Included?
