U.S. government sends 3,940 Bitcoin to Coinbase exchange

The US government sent 3,940 Bitcoin to a Coinbase Prime wallet on June 26, 2024, involving Bitcoin seized from convicted drug trafficker Banmeet Singh. Singh was arrested in 2019 and extradited to the US in 2023. As part of his judgment, Singh surrendered over 8,100 Bitcoin, valued at around $150 million, to the US. He was sentenced to 5 years in prison but was released.