Key Points
- The German Government moved 400 BTC worth $25.1 million to Bitstamp, Coinbase, and Kraken.
- The US Government transferred 3.375 ETH worth $11.4 million to an unknown address.
The German government transferred a total of 400 Bitcoin (BTC) worth about $25.1 million at current prices to three crypto exchanges including Bitstamp, Coinbase, and Kraken.
The transfer took place at 16:25 UTC+8 today, according to data from Arkham.
BTC is currently trading at around $62,800.
Since the previous two weeks, the German Government had transferred a total of 2,700 BTC worth around %170 million to CEX.
The German Government started sending BTC to crypto exchanges a couple of weeks ago after it had seized 50,000 BTC worth $3.1 million from the film piracy site Movie2k back in January.
Germany is one of the largest known nation-state holders of Bitcoin, behind the US, China, and the UK.
US Government moves ETH to an unknown address
According to reports coming from Arkham, the US Government moved 3.375 Ethereum, worth approximately $11.4 million to an unknown address.
The transfer took place at 16:34 UTC+8 today.
At the moment of writing this article, ETH is trading at around $3,400.
This address reportedly holds the seized funds of Estonian crypto entrepreneurs Potapenko and Turogin.
Previously, another US Government address used to hold the seized funds had transferred 11.84 BTC worth over $740,000.
On June 26, we reported that a significant amount of BTC totaling 3,940 coins worth approximately $247.7 million had been moved to Coinbase from wallets suspected to be also linked to the US Government.
The reports came shortly after the US had moved 750 BTC worth about $47.1 million.
The BTC amount that was moved has been traced back to Banmeet Singh, an Indian national, according to the reports coming from Arkham Research.
The same notes revealed that Singh had been convicted this year for distributed controlled substances and money laundering offenses. He was ordered to forfeit crypto worth around $150 million at the time.
Auctioning off or selling crypto obtained from criminal investigations or asset seizures is a common event for nations’ Governments.
