U.S government moves $1.9 million in Alameda-linked altcoins – Selling or reshuffling?
In a recent development, the US government transferred $1.9 million of Alameda funds to Coinbase Prime. Render (RNDR), Uniswap ($UNI), The Sandbox ($SAND), Mask Network ($MASK), and Axie Infinity ($AXS) were moved from a wallet that Arkham identified as belonging to the US Government. Source: ArkhamUSG moves funds, and the crowd gets divided For background, more than three years ago in 2023, the USG had seized $13 million worth of Alamedas assets from Binance. Additionally, Coinbase Prime worked as the institutional arm of the exchange. As anticipated, the movement of these whales sparked worries about a potential government sale. Many in the cryptocurrency community said that this was simply a staged liquidation process or a part of custody management, with no intention of selling. Source: X Still, a lot of people thought otherwise. Source: XMarket dynamics raises concerns This came as RNDR was trading at $1.99 following a 9.5% decline over the previous day. Meanwhile, at the time of writing, $SAND was down 4.47% at $0.06682, $MASK was down 4.45% at $0.4231, and $AXS was down 6.05% at $1.09 at the same time. This might not, however, indicate selling pressure because the global crypto market cap was down 3.07% from the day before, trading at $2.46 trillion. That said, the Crypto









