According to Arkham, an intelligence platform that tracks on-chain information, the German government liquidated additional Bitcoin (BTC) on the July 1st. The US government also liquidated large amounts of Bitcoin and Ethereum (ETH).
According to Arkham's data, the German government moved a total of 1,500 BTC (equivalent to $94 million, or approximately 15.2 billion yen) to several addresses, including cryptocurrency exchanges Coinbase and Kraken.
In two transactions, the German government sent 600 BTC and 500 BTC to unknown addresses, moving 200 BTC to a Bitstamp address, 100 BTC to a Coinbase address, and 100 BTC to a Kraken address.
The United States also liquidated Bitcoin
Another 3,375 ETH was transferred to an unknown address from a wallet address held by the U.S. government that held assets seized from Estonian businessmen Sergei Potapenko and Ivan Turogin.
The two Estonian nationals are accused of directing an illegal pyramid scheme through cryptocurrency mining service HashFlare and related investment company Polybius. According to the indictment, more than $550 million was defrauded from victims around the world between 2015 and 2019.
The two men also raised $25 million from investors and other sources under the false pretense that Polybius would become a cryptocurrency bank.
The cryptocurrency transactions by U.S. and German authorities follow similar measures taken by their governments last week.
Currently, crypto assets of approximately 213,534 BTC (approximately $13.42 billion: approximately 217 million yen) and approximately 50,524 ETH (approximately $175.9 million: approximately 28.5 billion yen) are stored in wallets related to the US government. Meanwhile, the German government currently holds approximately 44,692 BTC (approximately $2.81 billion: approximately 454 billion yen).
Although the US and Germany have sold large amounts of Bitcoin and Ethereum, there has been no impact on the price. Both governments are believed to have sold them in secret to avoid affecting the price.
Reference: German release, US release
Image: Shutterstock
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