Billions of dollars in cryptocurrencies from legal disputes with several cryptocurrency companies have been seized by the US government, including FTX, and are now being moved to another wallet.
According to Arkham Intelligence Data On December 3rd, the US government postponed several cryptocurrenciesCurrencies confiscated from the FTX Alameda cases after it collapsed in November 2022 due to mismanagement of funds.
The first cryptocurrency to move today is 54.8 billion Shiba Inu (SHIB), that is equals $1.55 million at the time of writing. At a later date, the platform also alerted that the government had also transferred $17.2 million worth of Ethereum (ETH) to another wallet.
This move was also followed by other cryptocurrencies, including 13.5 million Binance USD (BUSD) and $36,070 from Axie Infinity (AXS).
The US government also moved $296,000 worth of other cryptos, including $106,430 worth of Compound (COMP), $93,950 in Numeraire (NMR) and $50,710 in Wrapped Bitcoin (WBTC) and $47,350 to Yearn Finance (YFI).
The US government has postponed Bitcoin
This move has been seen several times in a year since litigation against the cryptocurrency industry, including the collapse of FTX Alameda, peaked two years ago.
In a recent case, nearly $2 billion worth of seized Bitcoins were moved to a new wallet at various points in the transfer. The first wallet received $969 million in Bitcoin (BTC), and the other received $949 million.
On the same day, another Bitcoin worth nearly $1 billion was transferred from 33Tg to Coinbase Prime. All wallets received the seized Bitcoins from Silk Road cases in November 2022.
The US government has now recorded $19.48 billion worth of digital assets, with Bitcoin, Ethereum, USDT, WBTC and BNB among the largest cryptocurrencies it owns.
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