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German and U.S. Governments Make Major Crypto Transfers, Sparking Market Interest

Jul 1, 2024

German and U.S. Governments Make Major Crypto Transfers, Sparking Market Interest
German and U.S. Governments Make Major Crypto Transfers, Sparking Market Interest
German and U.S. Governments Make Major Crypto Transfers, Sparking Market Interest

On July 1, both the German and U.S. governments executed significant cryptocurrency transfers, attracting considerable market attention. The German government conducted transactions involving 1,500 BTC, valued around $95 million, directing portions to major exchanges like Bitstamp, Coinbase, and Kraken. This move is part of ongoing activities where Germany has recently transferred a total of 2,700 BTC to various exchanges over the past fortnight, holding a total of approximately 44,692 BTC, valued at about $2.82 billion. Meanwhile, the U.S. government transferred 3,375 ETH, worth approximately $11.75 million, from seized funds to an undisclosed destination. These actions underscore government entities' increasing engagement with cryptocurrencies, reflecting growing regulatory and operational involvement in the digital asset space.