The US government has transferred 3,940 Bitcoin, seized from convicted drug trafficker Banmeet Singh, to a Coinbase Prime wallet, according to Arkham Intelligence. Singh, arrested in 2019 and extradited to the US in 2023, was forced to surrender over 8,100 Bitcoin, the largest cryptocurrency seizure by the US Drug Enforcement Agency. The transfer has sparked fears of a government sell-off impacting the Bitcoin market, following reports of the German government unloading its Bitcoin. The US government currently holds approximately 214,000 Bitcoin, making it the largest state holder of the decentralized currency.