Blockchain intelligence firm Arkham's data shows that wallets linked to the US government transferred more than $100 million in cryptocurrency on Tuesday, involving Bitcoin and BNB. It has not yet been confirmed whether the related assets were sold.

Specifically, the US government sent 833.599 Bitcoin, worth about $71.6 million at the time, to two addresses not labeled by Arkham. Within hours, those two addresses moved the Bitcoin to an address Arkham tagged as a Coinbase Prime deposit address.

Another government-tagged wallet sent about 40,285 BNB, valued at $31.63 million, to an unlabeled address 0x7F68F63fB3A9CCCf352409603421E0A574FbAD90, which then transferred all the BNB to a second unlabeled address 0x6fB3Fe7b7E78AbB84CE007cBC7412C850B15A579.

The Bitcoin in this transfer came from a wallet Arkham labeled as Potapenko/Turogin forfeiture funds (568.7 Bitcoin) and Bitcoin forfeited in the Bitfinex hack case (264.9 Bitcoin). The BNB came from assets forfeited from Alameda Research.

The US government currently still holds about $27.5 billion in cryptocurrency, all from law enforcement seizures, and has so far not used taxpayer funds for new purchases.

Such transfers often spark market concerns that the government is about to sell, but market commentator Jose Rosell said on social media: "Transfer does not equal sale. Under the March 2025 executive order, Bitcoin forfeited to the government should be held in the Strategic Bitcoin Reserve."