The U.S. government recently moved $33.6 million in cryptocurrencies seized from FTX and Alameda Research to unidentified wallets. These transfers included $18 million worth of Ethereum (5,024 ETH), $13 million in Binance USD ($BUSD), and $1.5 million in Shiba Inu ($SHIB ). The movements were executed on December 3, sparking speculation about the government's intentions and their impact on the broader cryptocurrency market.
This event follows earlier transfers of nearly $2 billion in Bitcoin seized from Silk Road, suggesting a strategy to split holdings into smaller wallets. The U.S. government is currently one of the largest holders of Bitcoin, with approximately 198,000 $BTC valued at $19.2 billion.
Such activities often lead to market discussions about potential auctions or sales of seized assets, which could influence cryptocurrency prices. Additionally, these transfers coincide with a broader market rally, including Ethereum's price increase to $3,721.
