{"id":14676,"date":"2024-06-25T16:59:20","date_gmt":"2024-06-25T13:59:20","guid":{"rendered":"https:\/\/forklog.com\/en\/german-authorities-transfer-400-btc-worth-24-34-million-to-coinbase-and-kraken\/"},"modified":"2024-06-25T16:59:20","modified_gmt":"2024-06-25T13:59:20","slug":"german-authorities-transfer-400-btc-worth-24-34-million-to-coinbase-and-kraken","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/german-authorities-transfer-400-btc-worth-24-34-million-to-coinbase-and-kraken\/","title":{"rendered":"German Authorities Transfer 400 BTC Worth $24.34 Million to Coinbase and Kraken"},"content":{"rendered":"<p>On June 25, wallets associated with Germany&#8217;s Federal Criminal Police Office (BKA) transferred 200 BTC each (totaling $24.34 million) to the exchanges Coinbase and Kraken. The transactions were tracked by Arkham.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">UPDATE: German Government selling additional $24M BTC<\/p>\n<p>In the past 2 hours the German Government has moved 400 BTC to exchange deposits at Kraken and Coinbase.<\/p>\n<p>They have also moved 500 BTC to address 139Po. We have yet to see where these funds are moved. <a href=\"https:\/\/t.co\/D6QCUv9Jgx\">pic.twitter.com\/D6QCUv9Jgx<\/a><\/p>\n<p>\u2014 Arkham (@ArkhamIntel) <a href=\"https:\/\/twitter.com\/ArkhamIntel\/status\/1805542881454633282?ref_src=twsrc%5Etfw\">June 25, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>They also sent 500 BTC to a separate address. Analysts have promised to determine where these funds were transferred.<\/p>\n<p>Initially, the wallet labeled as &#8220;German authorities&#8221; held 50,000 BTC. According to Arkham, these are funds <a href=\"https:\/\/forklog.com\/en\/news\/german-authorities-seize-nearly-50000-btc-from-pirates\">seized<\/a> in January from the administrators of the pirate movie site Movie2k.<\/p>\n<p>On June 19, the government-marked address sent bitcoins worth $425 million to another wallet it owns. Following this, it made an internal transfer of $318 million.<\/p>\n<p>On the same day, BKA sent 500 BTC ($32.6 million) each to Kraken, Bitstamp, and Coinbase, and another 500 BTC to the address &#8220;139Po.&#8221; On June 20, the latter received an additional 800 BTC ($52.7 million).<\/p>\n<p>This was followed by a transfer of 200 BTC ($13.2 million) to Coinbase, after which 310 BTC ($20.1 million) returned to BKA from Kraken. Experts discovered that on June 20, a total of 90 BTC ($5.5 million) also arrived from wallets associated with Robinhood, Bitstamp, and Coinbase.<\/p>\n<p>According to Arkham, the German government currently <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/germany\">owns 46,359 BTC<\/a>, which at current prices amounts to ~$2.83 billion.<\/p>\n<p>According to <a href=\"https:\/\/bitcointreasuries.net\/\">BitcoinTreasuries<\/a>, this places the country behind only the US (213,246 BTC), China (190,000 BTC), and the UK (61,000 BTC).<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1079.webp\" alt=\"1-1079\" class=\"wp-image-235619\"\/><figcaption class=\"wp-element-caption\">Data: Bitcoin Treasuries.<\/figcaption><\/figure>\n<p>In the US, the government has faced accusations of &#8220;misappropriating&#8221; bitcoins from the national reserve, which was supposed to exceed 400,000 BTC.<\/p>\n<p>On June 24, the price of the leading cryptocurrency fell below $60,000 following news of Mt.Gox payouts in July.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 25, wallets associated with Germany&#8217;s Federal Criminal Police Office (BKA) transferred 200 BTC each (totaling $24.34 million) to the exchanges Coinbase and Kraken. The transactions were tracked by Arkham. UPDATE: German Government selling additional $24M BTC In the past 2 hours the German Government has moved 400 BTC to exchange deposits at Kraken [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,109],"class_list":["post-14676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-germany"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14676"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14675"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}