U.S. agency moves over 9k BTC to Coinbase: Glassnode

According to on-chain data, the US law enforcement agency moved 49,000 Bitcoin (BTC) — over $1 billion — during the early hours of March 8.

On-chain data provider Glassnode reported that the US agency was moving around 40,000 BTC, adding that the transactions appear to be internal transfers. However, it noted that the government agency sent 9,861 BTC (worth $219 million) seized from the Silk Road hacker to Coinbase.

In 2022, the US government sought the forfeiture of 51,351 Bitcoin seized from James Zhong. At the time, the assets were valued at over $3 billion.

On-chain analyst Lookonchain corroborated Glassnode’s report, adding that the agency transferred 39,175 BTC ($867M) to 2 new addresses.