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A wallet holding FTX-seized Chainlink tokens moved 98,590 LINK to Coinbase Prime on June 10, reviving speculation that US authorities could be preparing another crypto asset sale, though no liquidation has been confirmed.
Blockchain trackers flagged a transaction on June 10 showing 98,590 LINK, valued at roughly $768,000, moving from a wallet labeled by Arkham as “US Government: FTX Alameda Seized Funds” to Coinbase Prime. The transfer quickly attracted attention because government-linked crypto movements have historically preceded asset management actions involving seized funds.
The U.S. government is selling tokens again!
The U.S. government (FTX Alameda Seized Funds) wallet just deposited 98,590 $LINK($768K) to Coinbase Prime.https://t.co/esJntewKzz pic.twitter.com/AAdWPr8aBZ
— Lookonchain (@lookonchain) June 10, 2026
The wallet involved in the transaction is tied to assets confiscated following the collapse of FTX and Alameda Research in 2022. US authorities have spent the past several years recovering and administering digital assets connected to the case as part of broader forfeiture and creditor recovery efforts.
In July 2024, Coinbase announced that the US Marshals Service selected Coinbase Prime to provide custody and trading services for certain large-cap digital assets held by the government. Transfers into Coinbase Prime are closely watched because the platform is used for custody, trading, and asset management activities on behalf of institutional clients, including government entities.
Still, the blockchain data confirms only one fact: the LINK moved to Coinbase Prime. No on-chain evidence shows that the tokens have been sold.
Market reaction has focused on the possibility of new supply entering circulation. The numbers suggest a more measured view.
At current prices, the transferred LINK is worth about $768,000. Chainlink’s market capitalization stands near $5.6 billion, meaning the transaction represents a tiny portion of the network’s circulating value. The amount is also small relative to the token’s daily trading activity, limiting its potential impact on liquidity if a sale eventually occurs.
The transfer also fits a broader pattern of government management of seized crypto assets. Arkham has previously tracked movements involving Alameda-linked holdings, while the Department of Justice and other agencies have periodically consolidated, transferred, and administered recovered assets tied to major enforcement cases.
For now, the transfer provides a data point rather than proof of liquidation. What is known is that 98,590 LINK left a government-labeled wallet and arrived at Coinbase Prime. Arkham’s labeling shows the transferred tokens originated from the government’s FTX-Alameda seized funds cluster, while the blockchain record currently shows only a transfer to Coinbase Prime and no confirmed sale.
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