A blockchain wallet linked to the United States government transfers over 54 billion Shiba Inu (SHIB) tokens to a newly created wallet.
Popular blockchain analytics platform Arkham Intelligence indexed the transaction on December 3 at 19:30 (UTC).
US Moves Over 54B SHIB
Specifically, the U.S. government transferred 54,897,092,549 (54.89 billion) SHIB tokens to the Ethereum wallet ‘0x9…Cb0’. With Shiba Inu currently trading at $0.00003058, the tokens are worth around $1.67 million.
Following the transaction, the sending wallet, which had links to the United States government, no longer own any SHIB tokens. In the meantime, the recipient wallet, with a total crypto portfolio of $33 million, has retained the assets.
US Government Sees Huge Return on Shiba Inu Holding
The U.S. government has been holding the 54.89 billion SHIB tokens since earlier this year. In August, The Crypto Basic reported that the tokens were valued at $729,581, each priced at $0.00001329. Interestingly, the value has skyrocketed by 128.89% in less than four months to $1.67 million.
This follows a surge in Shiba Inu’s price, which began last month after the U.S. election. In particular, Shiba Inu has rallied by nearly 100% since the November 5 election, soaring from around $0.000017 to $0.000033 on December 1.
Currently, Shiba Inu is trading above the $0.00003 mark, with a unit priced at $0.00003058.
Other Crypto Transfers
Data from Arkham suggests that the recipient wallet was newly created. Its first transaction occurred yesterday when it received $1.061 million AEGRO from the same wallet that moved the Shiba Inu tokens.
The wallet received other crypto assets from the U.S. government-affiliated address in less than two hours. They include 4,815 ETH ($17.22 million), 13.58 million BUSD ($13.58 million), and 631,959 POWR ($199,250).
Meanwhile, the U.S. government-linked blockchain wallet also moved some crypto assets to another wallet starting with ‘0X9cd’, including 138,984 RLC ($347,460) and 1,232 COMP ($106,430). Additionally, it also transferred 19,800 BTC worth $1.92 billion to Coinbase earlier this week.
It is worth mentioning that the U.S. government seized some of these funds from the FTX case following the exchange’s epic collapse in 2022.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
