Significant Attention on German and US Governments’ Crypto Transfers
The recent transfers of millions of dollars worth of cryptocurrencies by the German and United States governments have captured considerable interest. The German government has made substantial transfers of Bitcoin (BTC), while the US government has moved Ether (ETH) from seized funds.
On July 1, the German government transferred 1,500 BTC, valued at around $95 million, to multiple crypto exchanges. In a separate move, the US government transferred 3,375 ETH, worth $11.75 million, to an undisclosed address.
According to data from the onchain analytics platform Arkham Intelligence, the German government has transferred 2,700 BTC to various exchanges over the past two weeks. These exchanges include Bitstamp, Coinbase, and Kraken. Currently, the German government holds 44,692 BTC, which is approximately worth $2.82 billion.
In the most recent transfers, 400 out of the 1,500 BTC were sent to the aforementioned major crypto exchanges. Additionally, on June 26, 750 BTC was transferred, with 250 going to Bitstamp and Kraken.
In the case of the US government, Arkham Intelligence data reveals that large transactions have been made from the address that holds funds seized from Estonian crypto entrepreneurs Potapenko and Turogin. On June 30, the US government moved 11.84 BTC, valued at around $743,000, from another seized funds address. Subsequently, the entire $11.75 million worth of ETH holdings were moved to a previously unassociated address.
These recent frequent transfers by both governments indicate strategic management of their held funds. Germany may be considering liquidating its holdings on major exchanges, while the US government’s movement of funds to an unknown wallet suggests a potential shift in ETH fund management.
The adoption of the Markets in Crypto-Assets Regulation (MiCA) by the European Union may have an impact on Germany’s crypto transfers. MiCA is expected to substantially disrupt the crypto market as it affects stablecoins and crypto asset services.
In summary, the recent crypto transfers by the German and US governments have garnered attention, and their motives and strategies are being closely observed.