The German Federal Criminal Police Office transferred $24 million in Bitcoin across two transactions to crypto exchanges Kraken and Coinbase.
Another $30 million worth of BTC was moved to a new wallet, with previous transfers totaling $195 million in BTC sent to exchanges on June 19 and 20.Another $30 million worth of BTC was moved to a new wallet, which has not been tagged as an exchange as of Tuesday. These transfers are in addition to $130 million in BTC sent to exchanges on June 19 and $65 million in BTC sent on June 20, as previously reported.
Arkham CEO Miguel More told CoinDesk over Telegram last week that moving to exchanges may indicate an intention to sell the assets. As such, a $24 million bitcoin sale is a relatively small amount. Over $40 billion worth of BTC exchanged hands in the past 24 hours, CoinGecko data shows. There’s ready liquidity for up to $20 million in a BTC trade on Binance alone – meaning the amount is unlikely to immediately move prices.
The German Federal Criminal Police Office seized almost 50,000 BTC, worth over $2 billion at the time, from the operators ofin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
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