U.S. sends millions in cryptocurrencies to exchanges amid altseason boom

The government transferred over USD 33 million in confiscated cryptocurrencies to unidentified addresses, according to Arkham data.

At least 30 cryptocurrencies from the top 100 have doubled their price in a year.

The amount mobilized includes 5,024 ether and 13.5 million BUSD.

The transfers occurred amid the altcoin resurgence.

Around 33.6 million dollars in cryptocurrencies were moved from U.S. government wallets on November 3rd. These are addresses where part of the funds confiscated after the collapse in 2021 of the cryptocurrency exchange FTX and the trading firm Alameda are held.

According to data from the analysis firm Arkham, the funds were moved to two unidentified addresses.

Specifically, the wallet sent the first batch of 4,815 ether (ETH), valued at over 17 million dollars, to an address starting with 0x9AcA, followed by the second batch of over 209 ETH to another starting with 0x9cdB8. In total, it was 5,024 ethers, currently valued at around 18 million dollars.

The U.S. government account also conducted multiple transactions that included transfers of 13.05 million dollars of BUSD and 1.55 million dollars of SHIB.

The movements of government wallets, labeled by Arkham as Confiscated Funds from FTX Alameda, included transactions with a variety of other tokens, including AERGO, POWR, AXS, YFI.