Coinbase Germany CEO: German Government's BTC Sale 'No Big Deal'

IconCryptoNewsTerminal Staff11 Jul, 2024

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Coinbase Germany CEO: German Government's BTC Sale 'No Big Deal'

Coinbase Germany CEO Jan Sell recently downplayed the significance of the German government's decision to sell its BTC holdings. In an interview with DL News, Sell said that the German government's BTC sale "is not a crypto crackdown" and that the amount of BTC sold by Coinbase "is not a substantial amount in terms of the trading volume that we normally see on the exchange." Sell's comments come after the German government announced plans to sell 2,500 BTC, which it had seized from a dark web marketplace. The sale is expected to raise around €40 million. The German government's decision to sell its BTC holdings has been met with mixed reactions from the cryptocurrency community. Some believe that the sale is a sign that the government is not serious about supporting cryptocurrency. Others believe that the sale is simply a way for the government to raise funds. Regardless of the German government's motivations, Sell believes that the sale will not have a significant impact on the cryptocurrency market. "I think it's a non-event," he said. "It's not a crypto crackdown. It's not a sign that the government is turning against cryptocurrency."

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