US government moves 264 Bitcoin worth $23M to Coinbase in Bitfinex restitution

The U.S. government transferred 264 BTC, worth about $23 million, to Coinbase in connection with restitution for victims of the 2016 Bitfinex hack. The movement signals a step in distributing recovered assets, but a transfer to an exchange does not by itself confirm that the Bitcoin was sold. The amount is small relative to Bitcoin’s overall market, so its direct price impact is likely limited; the transfer may nevertheless draw attention to potential near-term selling.