Deribit executive: Coinbase may help the U.S. Department of Justice custody $1.6 billion in confiscated crypto assets

Lin Chen, head of Asia-Pacific business at Deribit, said in a post on X that the U.S. Department of Justice (DOJ) chose Coinbase Prime to custody the confiscated crypto assets and paid Coinbase $32.25 million for the custody and processing contract. Based on the custody fee of 2%, the Department of Justice has about 1.6 billion crypto assets to handle, which can be described as "the top asset management company in the cryptocurrency circle". The U.S. Department of Justice's largest revenue this year also came from the crypto field. Yesterday, according to an official announcement, the U.S. Marshals Service under the U.S. Department of Justice selected Coinbase Prime as its "Class 1" large-cap digital asset custody and trading service provider. Coinbase stands out for its strong security record and institutional-level crypto service capabilities. Since its launch three years ago, Coinbase Prime has become the preferred platform for institutions and large crypto asset holders.