Analysts call the $1.01B government Bitcoin transfer a custody shift, not a sale

A US government Bitcoin transfer on October 8, 2026, moved 12,267.02 BTC, worth about $1.01 billion, from a wallet linked to the 2016 Bitfinex hack seizure to Coinbase Prime. Despite the exchange destination, Galaxy Research and Arkham Intelligence interpreted the activity as custody consolidation—not a confirmed sale. Key takeaways Government-linked wallets moved an estimated $1.5 […]