US Government Moves $673K in ETH Plus Over $930K in Stablecoins from FTX/Alameda Seizure to Coinbase Prime

The U.S. government transferred assets seized from FTX and Alameda Research to Coinbase Prime roughly eight hours ago, moving 319 ETH (approximately $673,000), 643,035 DAI, and 290,416 USDT in a single on-chain sweep.

The combined transfer totals just over $1.6 million at current prices. Coinbase Prime is the institutional custody and trading arm of Coinbase, and government deposits there typically precede a liquidation or structured sale rather than long-term custody.

The FTX estate has been winding down seized asset positions over several months as part of the broader bankruptcy and creditor repayment process. Movements of this scale are routine at this stage but worth tracking — they can create modest near-term sell pressure on ETH and the relevant stablecoin pools depending on how quickly the assets are converted.