US Government Transfers $33M in ETH, BUSD, and SHIB, Seized From FTX | BinanX News

On December 3, the US government transferred $33.6 million in cryptocurrency seized during the collapse of FTX and Alameda Research to two unidentified addresses.

Transfers involving tokens such as Ethereum (ETH), Binance USD (BUSD), Wrapped Bitcoin (WBTC), and Shiba Inu (SHIB) sparked curiosity throughout the digital asset sector.

Transfer Details

According to data from blockchain analytics firm Arkham Intelligence, the transactions included two significant transfers of 5,024 ETH and 3,739 ETH, valued at $18 million combined. The funds were sent to unknown addresses beginning with “0x9cd” and “0x9ac.”

The wallet labeled by Arkham as “FTX Alameda Seized Funds” also excited $13 million in BUSD and $1.5 million in SHIB.

Other cryptocurrencies were also involved in the transactions, including $36,070 in Axie Infinity (AXS), $106,430 in Compound (COMP), Numeraire (NMR) valued at $93,950, WBTC worth $50,710, and $47,350 in YFI from Yearn Finance.

The transfers coincided with a broader market rally, with almost all tokens included in the transactions seeing significant increases over the past seven days. ETH is currently trading at $3,726, nearly 28% off its all-time high, but up 9% from its level a week ago, and up more than 50% from its value a month ago.

Ethereum on-chain volume also hit a year-to-date high of $183.74 billion in November, with analysts attributing the rise to market participants reallocating capital from centralized exchanges to decentralized activities in the chain.

More government crypto activity

This latest transfer follows another major move of digital assets by the US government. On Monday, a wallet labeled “US Government: Funds Seized from Silk Road Justice Department” excited nearly $2 billion worth of Bitcoin (BTC) to Coinbase Prime.

The platform has become the government’s go-to service for cryptocurrency settlements, especially with the cache seized from the darknet market founded by Ross Ulbricht in 2011, which continues to play a major role in the narrative of price movements. of Bitcoin.

Arkham Intelligence reported that the transaction involved 19,800 BTC split between two wallets: one received 10,000 BTC worth $969 million, while the other was credited with 9,800 BTC valued at $949 million.

These actions reflect similar moves reported in July, when the blockchain analysis company highlighted that another $2 billion worth of Bitcoin, also seized on Silk Road, was split into separate wallets. At that time, nearly 28,000 BTC were split, with 19,800 coins worth $1.3 billion sent to one wallet and 10,000 worth $670 million sent to another.

The US government maintains significant holdings of Bitcoin obtained through asset seizures and forfeitures. As of December 4, its digital asset holdings amounted to $19.6 billion, and data shows that these include significant amounts of Bitcoin, Ethereum, USDT, WBTC and BNB.