Both the German and United States governments have garnered significant attention for their recent transfers of cryptocurrency holdings. The German government has made substantial transfers of Bitcoin (BTC), while the U.S. government has moved Ether (ETH) from seized funds.
On July 1, the German government transferred 1,500 BTC, valued at approximately $95 million, to multiple crypto exchanges. Similarly, the U.S. 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 a total of 2,700 BTC to various exchanges in the past two weeks. These exchanges include Bitstamp, Coinbase, and Kraken. Currently, the German government holds 44,692 BTC, equivalent to around $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 were transferred, with 250 going to Bitstamp and Kraken.
Arkham Intelligence data provides insights into the German government’s crypto movements over the past four days. It is worth noting that these transfers have sparked curiosity about whether Germany is selling its BTC.
Meanwhile, the U.S. government has also conducted significant transactions with the ETH holdings seized from Estonian crypto entrepreneurs Potapenko and Turogin. On June 30, the U.S. government moved 11.84 BTC, valued at around $743,000, from another seized funds address. Subsequently, the entire $11.75 million in ETH holdings was transferred to an address that was not previously associated with the government.
Arkham Intelligence data reveals the U.S. government’s crypto movements over the past two years. These recent transfers indicate a strategic management approach to the held funds, with Germany potentially seeking to liquidate its holdings on major exchanges. The U.S. government’s movement of funds to an unknown wallet may signify a broader shift in ETH fund management.
The recently adopted Markets in Crypto-Assets Regulation (MiCA) by the European Union could also impact Germany’s crypto transfers. As it affects stablecoins and crypto asset services, MiCA is expected to significantly shake up the crypto market.
In summary, both the German and U.S. governments have made notable cryptocurrency transfers, suggesting careful management of their holdings. These transfers could have implications for the crypto market, particularly in light of regulatory developments like MiCA.