Patrick

Bitcoin

when

Arkham

James

Speculation is mounting over a potential deal between the US government and Coinbase following the recent transfer of $2 billion in Bitcoin.&nbsp;
The buzz began when Bloomberg senior ETF analyst James Seyffart indicated that the US Marshals Service’s choice of Coinbase for digital asset management could explain the transfer.
Arkham Intelligence initially <a href="https://www.cryptotimes.io/2024/07/30/us-gov-moves-2b-silk-road-bitcoin-price-drops-below-67k/" rel="noopener noreferrer nofollow">reported</a> the transfer, revealing that the government split the Bitcoin into two addresses: one with 10,000 BTC worth approximately $669.35 million and the other with 19,800 BTC valued at about $1.33 billion. This move hints at a 10,000 BTC deposit into an institutional custody service, sparking theories about Coinbase’s involvement.
Seyffart, reflecting on these events, suggested that the government might be leveraging Coinbase for digital asset management. “Has to be this, right?” he remarked, indicating a strong possibility of this being the reason behind the transfer.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Has to be this, right? <a href="https://t.co/NZqQPE6GoL" target="_blank" rel="noopener noreferrer nofollow">https://t.co/NZqQPE6GoL</a> <a href="https://t.co/7Ek6bLwpeq" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/7Ek6bLwpeq</a>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1817976693249986577?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 29, 2024</a>
 </blockquote>
 </div>
</figure>
An X user named Patrick Liou corroborated this by pointing out that the US Marshals Service’s distribution schedule aligns with a long-term strategy, spreading the Bitcoin distribution over five years. Seyffart agreed, reinforcing the speculation.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 yes I think so. and if so, the RFP on the US Marshall's website stated they will do the distribution on a schedule over 5 years, not all at once— Patrick Liou (@patliou) <a href="https://twitter.com/patliou/status/1817987828934189177?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 29, 2024</a>
 </blockquote>
 </div>
</figure>
However, recent reports have confirmed that Coinbase Prime has been selected to provide custody and advanced trading services for the government’s digital assets.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/07/30/u-s-government-holds-12b-in-bitcoin-arkham/" rel="noopener noreferrer nofollow">U.S. Government Holds $12B in Bitcoin — Arkham</a>
</blockquote>

Coinbase Deal May Be Behind US Govt’s $2B BTC Transfer: James Seyffart

The Crypto Times

发布于 2024年7月29日的其他文章

Bitcoin Reaches 100 Days Since Last Halving Event

What happens when 1% of Bitcoin holders control 99% of BTC supply?

Coinbase Demands SEC Release Gary Gensler’s Private Emails in New Court Motion

Will Ethereum Price Surpass the $3.5K Level Post Consolidation Phase?

Bitcoin Breaks $70,000, PlanB Predicts BTC To Hit $150K By Year-End

SEC Chairman Gary Gensler May Resign as Trump Readies for 2025 Presidential Term

订阅我们免费的电子期刊，获取每日最新加密领域动态！