German Government Moves $75.53M in Bitcoin to Major Crypto Exchanges

IconCryptoNewsTerminal Staff04 Jul, 2024

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German Government Moves $75.53M in Bitcoin to Major Crypto Exchanges

It was reported that the German government transferred 1,300 BTC, valued at roughly $75.53 million, from a wallet linked to the government to major exchanges like Bitstamp, Coinbase, and Kraken. Blockchain analytics firm Arkm provided data showing three transactions. These consisted of 500 BTC to Bitstamp, 400 BTC to Coinbase, and 400 BTC to Kraken. This transaction marks the largest movement of funds from the government-tied address in recent history. Despite the transfer, the address still holds BTC worth approximately $98.8 million.