Coinbase Prime Receives 17,733 BTC from U.S. Government

U.S. government transfers 17,733 BTC to Coinbase Prime, likely for custody. Here's why the market is watching closely. U.S. government-linked wallets have transferred around 17,733 BTC to Coinbase Prime in early October, as reported by K33 Research. This includes 12,267 BTC associated with the Bitfinex hack. The significance of these transfers lies in their likely custody arrangements rather than sales, indicating a strategic approach to managing these assets. This development could influence market sentiment as traders assess the implications of such large-scale transfers. The recent transfers of Bitcoin to Coinbase Prime highlight a shift in custody dynamics for U.S.