The post Bitcoin and Ethereum Transfers by German and U.S. Authorities Draw Market Attention appeared on BitcoinEthereumNews.com.

TLDR The German government transferred 1,500 BTC (about $95 million) to crypto exchanges on July 1, 2024. The U.S. government moved 3,375 ETH ($11.75 million) from seized funds to an unknown address. Germany has transferred 2,700 BTC to exchanges over two weeks and holds 44,692 BTC worth $2.82 billion. These government transfers have led to a 6% drop in Bitcoin’s price. The moves suggest strategic management of crypto holdings by both governments. In recent weeks, the cryptocurrency market has seen notable activity from two major government players: Germany and the United States. Both countries have made substantial transfers of digital assets, drawing attention from market watchers and potentially impacting crypto prices. On July 1, 2024, the German government moved 1,500 Bitcoin (BTC), worth approximately $95 million, to several cryptocurrency exchanges. This transfer is part of a larger pattern of activity by the German authorities. Over the past two weeks, Germany has transferred a total of 2,700 BTC to major exchanges including Bitstamp, Coinbase, and Kraken. JUST IN: ???????? German Government sends another 1,500 #Bitcoin  worth $95 million to exchanges. The Government surely knows something… ???? pic.twitter.com/cgUO6JvZFh — EDO FARINA ???? XRP (@edward_farina) July 1, 2024 These transfers represent a significant portion of Germany’s cryptocurrency holdings. According to data from Arkham Intelligence, an on-chain analytics platform, the German government currently holds 44,692 BTC, valued at about $2.82 billion. The origin of these holdings can be traced back to a major seizure in 2013, when German law enforcement confiscated nearly 50,000 Bitcoin from the operators of Movie2k.to, a film piracy website. While Germany has been moving Bitcoin, the United States government has been active with Ethereum (ETH). U.S. authorities transferred 3,375 ETH, worth about $11.75 million, to an unknown address. This ETH came from funds seized from Estonian crypto entrepreneurs Sergei Potapenko…

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Filed under: News - @ July 2, 2024 10:26 am