German Government Allegedly Transfers $28 Million in Bitcoin to Exchanges
CryptoNewsTerminal Staff08 Jul, 2024
German Government Allegedly Transfers $28 Million in Bitcoin to Exchanges
Blockchain analytics firm Arkham Intelligence reports that a suspected German government address transferred $28 million worth of Bitcoin to Coinbase and Bitstamp exchanges. The transaction, involving 500 BTC, occurred approximately 10 minutes before the report was published. The reason for the transfer is currently unknown. However, there are speculations that the German government may be preparing to sell its Bitcoin holdings or using exchanges to facilitate payments related to government operations.