The U.S. government has secretly shifted about $1 million in cryptocurrencies related to the collapse of FTX and Alameda Research, further indicating that it is stockpiling confiscated assets for creditor reimbursements.
On June 10, blockchain analytics platform Arkham flagged the U.S. government sending about $984,000 in tokens related to FTX and Alameda to a Coinbase deposit address. This included a transfer of 98,591 LINK tokens worth over $768,000, as well as roughly $216,000 in other assets like AAVE, CHZ, and BAL.
These movements fit a broader pattern where authorities route seized coins through Coinbase Prime, which provides an institutional platform for custody, conversion, and eventual liquidation. Earlier in May, U.S. wallets holding Alameda-linked assets also sent about $1.9 million in altcoins, including RNDR, UNI, SAND, MASK, and AXS, to Coinbase Prime in a similarly structured series of transactions.
How It Connects To FTX’s Creditor Repayments
The government has not shared a detailed public statement about the $984,000 batch. Still, analytics firms and legal experts think the FTX bankruptcy estate will receive these funds as forfeited assets. DeFi-focused reporters also say that many Alameda and FTX assets seized by the DOJ will go back to FTX estate creditors and people who lost assets in the FTX collapse.
The FTX estate has already started repaying customers in stages after a Delaware judge approved its reorganization plan in late 2024. By early 2025, the estate began cash distributions via BitGo and Kraken, with an approved package that could return up to about $16.5 billion to creditors, or roughly 119% of the cash value of their claims as of November 2022.
Under the court‑backed plan, repayments roll out across multiple rounds, with smaller claims under $50,000 prioritized in the first waves. FTX’s restructuring chief, John Ray, has said, “The estate is working to finalize arrangements to make distributions to creditors across more than 200 jurisdictions around the world,” highlighting how complex the process remains even as money starts to move.
Each additional batch of recovered or forfeited assets, including seized government holdings now appearing on Coinbase Prime, adds to the pool the estate can eventually distribute.
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