US government deposits $9M in Ethereum to Coinbase Prime from seized FTX assets

The US government transferred about $9.29 million worth of Ethereum, or roughly 4,820 ETH, to Coinbase Prime from wallets tied to the FTX/Alameda collapse. The move is part of a broader, controlled liquidation process for seized crypto assets rather than evidence of immediate selling. The article notes additional transfers of SHIB, POWR, and AERGO in the same window, and says the US government’s total seized crypto portfolio exceeds $20 billion. Market impact on ETH appears limited so far because the amount is small relative to daily Ethereum trading volume, though the move reinforces ongoing supply overhang risk from government-held FTX assets.