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US authorities have transferred 24.408 Bitcoin, valued at approximately $1.91 million, from a wallet containing assets seized from the bankrupt cryptocurrency exchange FTX, founded by Sam Bankman-Fried, and its subsidiary hedge fund Alameda Research.
The transaction was recorded by analysts at Arkham Intelligence, noting that the Bitcoin was moved from an address labeled as “FTX Alameda Seized Funds.” These funds were seized three years ago from Alameda Research accounts on the Binance.US exchange. The movement of assets does not necessarily indicate that the US government intends to sell the Bitcoin, although Arkham analysts suggest the transaction could precede a larger liquidation of all remaining Alameda assets.
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US law enforcement currently holds 324,527 BTC, worth more than $25.5 billion. The total volume of crypto assets under government control is estimated at approximately $25.87 billion, including 125 million USDT stablecoins, $59 million in WBTC, $43.4 million in Ether, and $23.3 million in BNB.
The transfer of FTX Bitcoin occurred against the backdrop of a cryptocurrency market recovery. Bitcoin rose more than 40% from its cyclical low near $57,747, rebounding above $81,000. However, at the time of the transfer, Bitcoin had already corrected to $78,700. Currently, the leading cryptocurrency is trading slightly below $80,000 with a market capitalization of $1.6 trillion. The 24-hour trading volume increased by 2.5% to $31.4 billion.
This is not the first instance of crypto assets related to FTX and Alameda being moved. In July, the US transferred $9.29 million in Ether to the Coinbase Prime platform, as well as 19.62 million USDT and approximately $250,000 in SHIB tokens seized from FTX and Alameda. At that time, Arkham analysts questioned whether these Ether holdings would be sold and returned to creditors, but no further movement of funds has been recorded since.
In April, US authorities transferred $2 billion in Bitcoin confiscated by the Department of Justice from the darknet platform Silk Road. These assets were also transferred to a Coinbase Prime account.
