The US government has sent 30,175 bitcoins worth around $2 billion to a Coinbase-linked wallet, the largest transaction since a prior auction over a year ago.
The decision follows Argentina’s new crypto registration requirements, which elicited mixed reactions from the Bitcoin community.
Figure Markets, a bitcoin exchange, is attempting to democratize financial services. Coinbase has expressed concern about potential risks in the Ethereum restaking market.
In March 2023, the government offloaded 9,861 bitcoins worth $216 million that had been seized from the Silk Road website.
This shift matches a larger trend in the CoinDesk 20 Index, indicating the market’s sensitivity to large government Bitcoin transactions.
