U.S. government moved billions of seized FTX cryptos: Shiba-Ethereum

Billions of dollars of cryptocurrency from legal battles with various cryptocurrency companies, including FTX, were seized by the US government and now they have moved it to another wallet.

According to data from Arkham Intelligence dated December 03, the US government moved several cryptocurrencies seized in the FTX Alameda cases after it collapsed in November 2022 due to mismanagement of funds.

The first cryptocurrency to be moved today is 54.8 billion Shiba Inu (SHIB), which is equal to $1.55 million at the time of this writing. Later, the platform was also alerted that the government had moved $17.2 million worth of Ethereum (ETH) to another wallet.

Other cryptocurrencies followed, including Binance USD (BUSD) at $13.5 million and Axie Infinity (AXS) at $36,070.

The US government also moved $296,000 worth of other cryptocurrencies, including Compound (COMP) at $106,430, Numeraire (NMR) at $93,950, Wrapped Bitcoin (WBTC) at $50,710, and Yearn Finance (YFI) at $47,350.

US government moved Bitcoin

The move has been seen several times in the year since legal battles against the cryptocurrency industry, including the collapse of FTX Alameda, reached their peak two years ago.

In a recent incident, seized Bitcoin worth approximately $2 billion was moved to a new wallet at different transfer times. The first wallet received $969 million in Bitcoin (BTC), while the other received $949 million.

On the same day, another approximately $1 billion worth of Bitcoin was moved to Coinbase Prime at 33Tg. All wallets received Bitcoin seized from the Silk Road cases in November 2022.

Currently, the US government has recorded $19.48 billion in digital assets, with Bitcoin, Ethereum, USDT, WBTC, and BNB among the top cryptocurrencies in their holdings.