- The German Federal Criminal Police Office (BKA) 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.
Approximately $30 million in Bitcoin was transferred to a newly identified wallet on Tuesday, without any record of it being linked to an exchange. Previously disclosed transactions include the transfer of $130 million and $65 million in Bitcoin to known exchanges on June 19 and 20, respectively.
Last week, Miguel More, Arkham’s CEO, shared with CoinDesk via Telegram that transferring cryptographic assets to exchanges could potentially signal a desire to sell those holdings.
From a crypto investor’s perspective, selling $24 million worth of bitcoin is not a significant transaction. The cryptocurrency market has seen over $40 billion worth of bitcoin traded in the last 24 hours, according to CoinGecko data. There’s enough liquidity available on Binance alone for up to $20 million in a bitcoin trade, implying that this amount is unlikely to cause an immediate price shift.
In late 2013, the German Federal Criminal Police Office (BKA) confiscated approximately 50,000 Bitcoins, equivalent to over $2 billion at the time, from the administrators of Movie2k.to – an infamous film piracy platform.
The BKA received the Bitcoin in mid-January after a ‘voluntary transfer’ from the suspects.
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2024-06-25 14:55