The actions of the German and United States governments have sparked considerable interest following substantial transfers of cryptocurrency holdings. The German government executed significant transactions involving Bitcoin (BTC), while its U.S. counterpart transferred Ether (ETH) from seized assets.
On July 1, Germany initiated transfers of 1,500 BTC valued at approximately $95 million to multiple crypto exchanges. Concurrently, the U.S. government moved 3,375 ETH worth $11.75 million to an undisclosed destination.
According to data from Arkham Intelligence, a platform specializing in crypto on-chain analytics, Germany has transferred a total of 2,700 BTC to various exchanges over the past fortnight. Notable recipients include Bitstamp, Coinbase, and Kraken. Presently, Germany holds 44,692 BTC valued at about $2.82 billion.
Of the recent 1,500 BTC transfers, 400 were sent to the aforementioned major exchanges, with 750 BTC transacted on June 26—250 of which went to Bitstamp and Kraken.
Arkham Intelligence’s records of German government crypto movements over the past four days illustrate these activities.
Meanwhile, Arkham Intelligence also reports significant transactions by the U.S. government, specifically involving funds seized from Estonian crypto entrepreneurs Potapenko and Turogin. Following a prior transaction of 11.84 BTC valued at $743,000 on June 30 from another seized address, the U.S. government has now transferred its entire ETH holdings of $11.75 million to a previously unassociated wallet.
Arkham Intelligence’s data on U.S. government crypto activities over the past two years provides further insights into these transfers.
These recent and frequent movements by both governments suggest strategic management of their crypto assets. Germany’s actions potentially indicate preparations to liquidate holdings on major exchanges, while the U.S. government’s transfer to an undisclosed wallet may signify a broader shift in ETH fund management.
The implementation of the Markets in Crypto-Assets Regulation (MiCA) by the European Union is expected to have a significant impact on these crypto transfers. Designed to regulate stablecoins and crypto asset services, MiCA is poised to reshape the crypto market landscape.
For more on crypto news, including VanEck’s Solana ETF filing and developments in Ether supply, explore the latest edition of Hodler’s Digest from June 23-29.