$6.3M Bitcoin Transfer Sparks Trump Reserve Sale Claims, But On-Chain Data Shows Only Custody Move

• Blockchain data confirms a transfer of $6.3 million worth of Bitcoin into Coinbase Prime custody, but does not show evidence of a completed sale.
• Claims that Bitcoin was sold stem from a report that cites a potential conflict with President Donald Trump’s Executive Order 14233.
• The executive order instructs federal agencies to retain forfeited Bitcoin as part of the U.S. Strategic Bitcoin Reserve.

The U.S. Marshals Service (USMS) has reportedly transferred $6.3 million worth of Bitcoin (BTC) tied to the Samourai Wallet case into Coinbase Prime custody, prompting claims that the assets were sold in violation of President Donald Trump’s executive order. On-chain data, however, does not support a confirmed liquidation.

A report by Bitcoin Magazine argued that the alleged sale could violate Trump’s Executive Order 14233, which directs federal agencies to retain Bitcoin acquired through criminal or civil asset forfeiture as part of the U.S. Strategic Bitcoin Reserve. 

However, a review of publicly available on-chain data on Arkham Intelligence by BeInCrypto and verified by Stocktwits, showed that while Bitcoin was transferred into Coinbase Prime custody, the blockchain does not establish that the Bitcoin was sold.

On-Chain Data Shows Custody Transfer, Not A Sale

There is no on-chain indication that the funds were moved to a non-Coinbase entity, fragmented into multiple outputs typically associated with trade execution, flowed into known exchange settlement wallets, or distributed in a pattern consistent with a completed sale. 

A zero balance at the original Coinbase Prime deposit address does not imply liquidation. It typically reflects internal address sweeping, a standard custodial practice, the report said. While the on-chain data confirms custody movement, it stops short of proving market execution.

What Would Be Required To Confirm A Violation

The report stated that confirming whether Executive Order 14233 was violated would require off-chain documentation, including court-issued forfeiture or disposition orders, USMS asset management records, or execution and settlement documentation from Coinbase Prime. 

Without those records, claims of a confirmed sale extend beyond what blockchain data alone can substantiate. This does not rule out the possibility that liquidation occurred. It means only that, in the absence of supporting documentation or court authorization records, the allegation remains unproven.

The Origin Of $6.2 Million In Bitcoin

The Bitcoin in question originated from a $6.3 million payment made by the Samourai Wallet developers, Keonne Rodriguez and William Lonergan Hill, to the U.S. Department of Justice (DOJ) as part of their guilty plea. 

During the Joe Biden administration, the DOJ accused the developers of operating an illegal money transmitter and facilitating criminal activity through Samourai Wallet, a tool designed to allow Bitcoin users to transact privately without transferring funds to a third party.

Rodriguez was sentenced in October to five years in federal prison, the maximum possible penalty for that charge, while Hill received a four-year sentence last year. President Donald Trump said in November that he was open to exploring a pardon for Rodriguez and noted that he was already familiar with the case.

Bitcoin’s price rose 0.9% in the last 24 hours to $93,450, according to CoinGecko data. On Stocktwits, retail sentiment around the apex cryptocurrency trended in ‘extremely bullish’ territory over the past day as chatter rose to ‘high’ from ‘normal’ levels.

Read also: The First US Crypto Fund To Pay Staking Rewards Is Also Staring At $5 Billion In Outflows

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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