Arkham CEO on $1 Billion of U.S. Government Bitcoin Moved to “Unknown” Wallet

Arkham CEO Miguel Morel said roughly $1 billion in Bitcoin associated with the U.S. government was moved to an address initially labeled “unknown.” Subsequent tracking linked the transfer to Coinbase Prime addresses, indicating the coins were likely moved into institutional custody rather than sent to an unidentified buyer. The transfer alone does not establish that the government sold the Bitcoin, though it raised questions about asset management and potential market impact.