U.S. Moves $1.9M in Seized Alameda Altcoins to Coinbase Prime

On Wednesday, U.S. authorities moved about $1.89 million in five altcoins seized from Alameda Research to a Coinbase Prime deposit address, Arkham Intelligence flagged. The tokens were Render (RNDR), Uniswap (UNI), The Sandbox (SAND), Mask Network (MASK) and Axie Infinity (AXS).

Arkham’s on-chain tracker showed a wallet it labels as the U.S. government sending roughly $1.89 million in the five tokens to a Coinbase Prime address. Most of the dollar value sat in RNDR and UNI, with market capitalizations near $1.14 billion and $2.08 billion respectively. SAND, MASK and AXS represented smaller positions worth a few hundred thousand dollars each. The source accounts are on Binance, where the Department of Justice seized assets in 2023.

Coinbase Prime is the exchange’s institutional arm used by hedge funds, asset managers and government agencies for custody and structured sales. Federal transfers to institutional custody have in past cases preceded either custodial changes or outright liquidations; earlier federal activity included transfers of bitcoin and other tokens. A change last year at Coinbase Prime altered which altcoins the platform will custody for institutional clients.

The seized Alameda assets trace to civil forfeiture actions filed in January 2023 linked to the wider FTX collapse. Arkham’s public entity page lists 610 addresses associated with the U.S. government holding a combined balance of roughly $27 billion as of early May 2026, dominated by 328,361 BTC valued at about $26.6 billion. The Department of Justice’s Asset Forfeiture Program has generated more than $11 billion in court-ordered forfeitures tied to the FTX cases.

Federal handling of seized crypto has included converting smaller altcoin holdings and moving bitcoin in larger, structured transactions. In late 2024 federal addresses converted seized Aragon (ANT) tokens into ether after two years of dormancy, and earlier FTX-era wallet activity moved about $33 million in ETH, BUSD and smaller tokens.

Public posts on X treated the transfer largely as routine asset management. One post read, “Relax, it’s pocket change for the US gov. They probably just rebalancing their bags.” Arkham asked, “Are they about to sell the seized funds?” The Department of Justice has not commented on the purpose of the transfer.

It is not clear whether the holdings will be placed into long-term custody, rebalanced among custodians or prepared for sale. No public timeline or plan for these specific tokens has been announced.