Lookonchain
Wallets tied to US government holdings of seized FTX Alameda assets deposited roughly $4.55 million worth of tokens into Coinbase Prime, according to on-chain tracking.
The batch was dominated by 2.66M $DAI (about $2.66M), with smaller allocations of $RNDR ($596K), $UNI ($969K), $SAND ($232K), $MASK ($57K), $AXS ($37K), and $APE ($6K). Coinbase Prime is the institutional brokerage arm typically used for over-the-counter sales to qualified buyers rather than open-market execution.
Why it matters
The transfer is the latest in a series of moves the government has made as it works through liquidating assets recovered from the FTX and Alameda estate following the 2022 collapse. Routing the tokens through Coinbase Prime is consistent with the pattern of structured sales rather than immediate liquidation into thin order books, which would risk depressing prices of the smaller-cap tokens in the basket.
The composition of the batch — heavy on DAI and governance tokens ($UNI, $RNDR) plus metaverse and NFT-adjacent assets ($SAND, $AXS, $APE, $MASK) — reflects the speculative positioning the FTX/Alameda balance sheet carried into its bankruptcy, much of which was marked illiquid during the proceedings.
Market impact
Single-day transfers of this size are unlikely to move spot prices, but the cumulative flow is what the market tracks. The pace and venue of these disposals sets the supply backdrop for each named token, and shifts in cadence are often the first signal that a larger block sale is being staged.
Frequently asked questions
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Why is the US government moving seized FTX tokens to Coinbase Prime?
Coinbase Prime is the institutional brokerage arm used for over-the-counter sales to qualified buyers. Routing tokens there lets the government dispose of seized FTX/Alameda assets via structured block sales rather than open-market execution, which would risk crushing liquidity on smaller-cap tokens.
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What tokens were in this latest FTX seizure deposit to Coinbase Prime?
The roughly $4.55M batch was 2.66M DAI (~$2.66M), 298,179 UNI (~$969K), 274,458 RNDR (~$596K), 3.32M SAND (~$232K), 128,637 MASK (~$57K), 31,804 AXS (~$37K), and 47,702 APE (~$6K). DAI made up roughly 58% of the total.
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Does this FTX token transfer affect market prices?
Single deposits of this size are unlikely to move spot prices on their own. What the market tracks is the cumulative pace and venue of these government transfers, because they set the supply backdrop for each named token over time.
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Where did these seized FTX tokens come from originally?
The assets were recovered from the FTX and Alameda estate following the November 2022 collapse. The composition of the basket — heavy on DAI, governance tokens, and metaverse/NFT-adjacent assets — reflects the speculative positioning FTX/Alameda carried into bankruptcy.
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How fast is the US government liquidating seized FTX holdings?
The government has been transferring seized FTX/Alameda tokens to Coinbase Prime in repeated batches rather than a single block sale. The cadence of these deposits is publicly visible on-chain and is the primary signal traders use to gauge how quickly the estate is being wound down.
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