The U.S. government recently made a significant move with its Ethereum holdings, earning nearly $115 million in unrealized profit without trading. This strategic transfer involved seizing funds from the 2022 Chase Senecal phishing scam and strategically timing its withdrawal to Coinbase when prices were low. These gains highlight the government’s expertise in leveraging cryptocurrency markets. 76.56 ETH was transferred to Coinbase on July 7th at a price of $2,530 per ETH, resulting in a realized gain of nearly $132,000. The funds were later returned after the price of Ethereum surged. This action highlights a key characteristic: the government isn’t simply dumping its crypto holdings like usual, but instead, utilizing a long-term approach to maximize potential profits. 76.56 ETH is only a small fraction of the overall $23.4 billion in cryptocurrency held by the government, according to Arkham and Lookonchain. It’s important to note that the government is not dumping Bitcoin in auctions; however, its Ethereum holdings have been utilized in a sophisticated manner to capitalize on price fluctuations. This strategy demonstrates that the government is actively using its digital assets for strategic purposes, rather than simply acting impulsively.