Germany has shifted an additional 1,400 BTC, valued at $80 million in today’s market, in its recent series of Bitcoin transactions. On July 6, a wallet linked to the German government transferred 700 BTC to an unknown address, followed by another 700 BTC on July 7 to the same destination. This brings the total in the wallet to 1,400 BTC, as reported by blockchain analytics platform Arkham Intelligence. This marks the 14th significant transfer from the government-associated BTC address in the past week, although the German government still holds a substantial 39,800 BTC, valued at $2.2 billion. German lawmaker Joana Cotar had previously urged the government to halt its rapid Bitcoin sales and maintain the cryptocurrency as a strategic reserve against risks in the traditional financial system.
In a separate development, Ethereum co-founder Vitalik Buterin made a donation of 100 ETH to a Gnosis Safesmart contract over the weekend, as confirmed by Akhram Intelligence data. The donation was directed to the Ethereum marketing studio Collective 2077, which aims to enhance Ethereum’s presence and appeal through innovative initiatives and community-driven efforts. Buterin’s contribution was acknowledged by Collective 2077, expressing gratitude for the support in their mission to “make Ethereum great again.”
Ryan Selkis, CEO of Messari, declared himself an adversary of the SEC in a draft letter to the United States Congress, criticizing SEC Chair Gary Gensler as corrupt and incompetent. Selkis accused the regulator of having no valid authority to oversee crypto markets and ensuring continued losses for U.S.-based crypto firms. The draft letter is expected to be refined and submitted to Congress in the coming weeks.
In a significant move, the notorious crypto wallet drainer group, Inferno Drainer, sent 303 ETH to the Ethereum privacy protocol Railgun on July 7. This transfer, valued at $880,000, marks the first major transaction by Inferno Drainer in several months. The group has a history of stealing millions in crypto from numerous victims since its inception in August 2023. Additionally, it was pointed out that ‘Bitcoin Layer 2s’ may not truly function as Layer 2 solutions, highlighting the importance of this distinction.