| Mobile Web

U.S. government transfers bitcoin, ether to Coinbase, putting strategic reserve rules to the test

The U.S. government transferred about $288 million worth of bitcoin and ether classified as government-held to Coinbase Prime, drawing attention to whether the move relates to the strategic bitcoin reserve. Onchain data showed 3,941 bitcoin and 30,007 ether were sent over about eight hours. Analysts said the transfer alone does not prove a sale, and publicly available data cannot confirm whether the bitcoin was part of the strategic reserve.