**German Government Makes 150 BTC Deposit into Kraken**

IconCryptoNewsTerminal Staff08 Jul, 2024

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**German Government Makes 150 BTC Deposit into Kraken**

Blockchain analytics firm Arkham Intelligence (ARKM) has detected that an address believed to belong to the German government deposited 150 BTC ($8.57 million) into Kraken 17 minutes ago. This transaction follows an earlier transfer of 133.722 BTC (worth $7.63 million) from the same address to another address allegedly belonging to crypto market maker Cumberland. It's unclear at this time why the German government made these transactions. However, the size of the deposits suggests that the government is either actively trading cryptocurrency or preparing to do so in the near future. It's also worth noting that the German government has previously expressed interest in regulating the cryptocurrency market. Therefore, it's possible that these transactions are related to that effort. We will continue to monitor this situation and update this article as new information becomes available.

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