Coinbase Prime at Center of U.S. Government Bitcoin Sale Controversy

The U.S. Marshals Service has come under scrutiny for allegedly selling 57.55 BTC, forfeited from Samourai Wallet developers, directly to a Coinbase Prime address. The transaction, worth approximately $6.3 million, has raised questions about compliance with Executive Order 14233, which mandates that such assets be held in a Strategic Bitcoin Reserve. Blockchain data confirms the liquidation, highlighting tensions between law enforcement actions and federal cryptocurrency reserve policies. This incident underscores ongoing challenges in reconciling regulatory enforcement with long-term digital asset management strategies.

U.S. Government Faces Scrutiny Over Bitcoin Sale Amid Reserve Policy Questions

The U.S. Marshals Service has sparked controversy by allegedly selling 57.55 BTC forfeited by Samourai Wallet developers, worth $6.3 million, directly to a Coinbase Prime address. Blockchain data indicates the funds were liquidated, contradicting Executive Order 14233 mandating such assets be held in a Strategic Bitcoin Reserve.

This transaction highlights tensions between law enforcement actions and federal cryptocurrency policy. The Biden administration's 2025 directive explicitly requires forfeited bitcoin to bolster national reserves, not fundraisers—yet the DOJ's rapid offloading suggests competing priorities within the government.

Goldman Sachs Upgrades Coinbase to Buy, Citing Infrastructure Growth and Crypto Adoption

Goldman Sachs has upgraded Coinbase Global (COIN) from neutral to buy, setting a $303 price target that implies 18% upside from current levels. The stock surged 8% to $254.92 following the announcement, reflecting renewed institutional confidence in the crypto exchange's evolving business model.

The upgrade highlights Coinbase's strategic pivot toward infrastructure services, which now account for 40% of revenue—up from less than 5% five years ago. Goldman analyst James Yaro emphasized the company's expansion into prediction markets, tokenization, and derivatives trading as key growth drivers. "We see selective Optimism for crypto infrastructure plays," Yaro noted, pointing to Coinbase's custody, staking, and subscription products as competitive moats.

While regulatory uncertainty remains a hurdle, Goldman anticipates accelerating crypto adoption by 2026 across both retail and institutional segments. The bullish call underscores how major exchanges are diversifying beyond volatile trading fees—a trend that could reshape the sector's valuation framework.