The Future of the Large Bitcoin and Cryptocurrency Holdings Seized by the US Government Has Been Decided Involving Coinbase

The US has revealed the fate of the large amount of Bitcoin and other cryptocurrencies it has seized, selecting Coinbase Prime as its partner for managing and disposing of the assets. The US Marshals Service made the decision after a competitive tender process earlier this year. The contract, issued on behalf of the Asset Forfeiture Division, aims to streamline the custody, management, and disposition processes for cryptocurrencies. Coinbase Prime will be responsible for implementing storage and liquidation techniques in accordance with Department and USMS policies. The contract is structured as a single-tender Indefinite Delivery/Indefinite Quantity (IDIQ) agreement with an initial order period of five years and the possibility of a six-month extension. The decision to award the contract to Coinbase Prime was likely influenced by the impressive performance of the company, which maintained $330 billion in assets and recorded $256 billion in institutional transaction volume in the first quarter of 2024. This is not investment advice. If you’re interested in investing in more than 300 cryptocurrencies, you can register with Binance exchange with a 20% COMMISSION DISCOUNT from this link! Follow our Telegram and Twitter account now for exclusive news, analytics, and on-chain data!