US Transfers $768K in Seized Chainlink to Coinbase Prime

On May 29, 2026, a wallet tied to the U.S. government transferred 98,590 Chainlink (LINK) tokens to Coinbase Prime. The tokens were valued at about $768,000 at the time of the transfer.

The transfer was detected on public ledgers within minutes and attributed to an address cluster linked to previous government seizures. The tokens trace back to assets confiscated after the collapse of FTX and Alameda Research in November 2022. A federal judgment later ordered forfeiture of assets recovered from the FTX case for victim compensation.

In July 2024 the U.S. Marshals Service selected Coinbase Prime to custody and trade its large-cap digital assets. A 2024 Coinbase blog stated: “After a comprehensive process, the U.S. Marshals Service (USMS), a division of the U.S. Department of Justice, selected Coinbase Prime as its partner to safeguard and trade its ‘Class 1’ (large cap) digital assets.” Deposits to Coinbase Prime in previous cases have preceded custody transfers, over-the-counter transactions or scheduled liquidations.

At the time of the transfer Chainlink traded near $7.66, giving the moved tokens a value of roughly $768,000. The amount represents under 0.4% of Chainlink’s roughly $225 million daily trading volume and about 0.01% of the 727 million tokens reported in circulation. Chainlink’s market capitalization was about $5.57 billion and ranked 21st by market value.

Chainlink’s price has declined in recent periods, down about 27% over the past 30 days and roughly 49% over the past year. The FTX estate has continued creditor repayments; its fourth distribution in March returned $2.2 billion to creditors.

The transferred LINK could remain in custody at Coinbase Prime, be routed through an over-the-counter desk, or be sold on public markets. Past movements of seized altcoins have included transfers of other tokens and stablecoins into custodial accounts. Future transactions from the wallet will indicate whether the deposit is routine asset management or part of a planned disposition.