U.S. Government Converts Crypto Assets to Ethereum Before Phaseout Deadline

The U.S. government has recently exchanged its holdings of ANT tokens for Ethereum as part of a scheduled phaseout of digital assets.

The government-controlled wallet, inactive for nearly two years, transferred about $974,000 worth of ANT in two transactions totaling $550,000 and $518,000 in ETH, according to Arkham Intelligence. This move occurs just ahead of AragonDAO’s planned token phaseout on November 2.

The transactions were initiated to convert seized ANT tokens into the more liquid Ethereum. The U.S. wallet, previously receiving smaller transfers unrelated to ANT liquidations, executed this conversion through AragonDAO’s redemption system.

AragonDAO, having recently rejected a proposal for a community-led organization due to concerns over potential takeover risks, is now in the process of winding down its ANT token ecosystem.

The DAO will remain active post-November 3 to oversee remaining fund allocations but has restricted Twitter/X account activity and focused on final redemptions at fixed rates, avoiding fluctuating market prices.

Meanwhile, Alameda wallets show continued trading activity, with holdings of around $980,000 in ETH and other tokens. Recent transactions included 143,770 WLD tokens sent to Binance and $500,000 in AMPL tokens, marking an active period as FTX prepares to settle obligations worth billions.