COIN - German Government Continues Bitcoin Liquidation Transfers 400 BTC To Exchanges | Benzinga
The German Government transferred a total of 400 BTC, valued at approximately $24.34 million, to major cryptocurrency exchanges Coinbase Inc. (NASDAQ:COIN) and Kraken today.
What Happened: According to data from Arkham, the transfers were executed at 15:38 UTC+8, with each exchange receiving 200 BTC.
This transfer follows a significant movement of Bitcoin (CRYPTO: BTC) by the German Government last week, where a total of 1,700 BTC was transferred to Coinbase, Bitstamp and Kraken.
This series of substantial transfers has garnered considerable attention in the crypto community, which is apprehensive of the strategy by the German authorities to liquidate or redistribute seized digital assets.
The recent activities align with a broader trend observed in ...