17,733 Bitcoin From US Government Wallets at Coinbase Prime: A Transfer Is Not a Sale

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Wallets attributed to the US government moved more than a billion dollars of Bitcoin to the custodian used by the US Marshals in three days, and the market read that as a sale nobody can document. What the on-chain data actually shows, why $1.05 billion in long positions vanished anyway, and which part of it touches your holding period, your leverage and your custody. Wallets attributed to the US government moved 17,733 Bitcoin worth roughly $1.48 billion into accounts at Coinbase Prime over three days. Not one of those coins has been sold, as far as the public record goes. The gap between those two sentences is what the market tripped over on Thursday and Friday: Bitcoin fell to its October low and recovered again, and in between, leveraged positions worth more than a billion dollars were wiped out. Here is the sequence, with the figures that are documented and the points where the counts contradict each other. 17,733 Bitcoin at Coinbase Prime: What the On-Chain Data Shows Acco...