US government sends $288M to Coinbase putting Bitcoin reserve rules into question

A $288 million Coinbase Prime transfer has put the U.S. government’s crypto rules under an early operational test. U.S. government-tagged wallets sent 3,941 BTC and 30,007 ETH to Coinbase Prime over roughly eight hours, according to Lookonchain. Arkham placed the combined value at about $288.33 million. Notably, Coinbase Prime hosts more than one kind of government activity. Coinbase announced in July 2024 that the U…