Crypto Whale Moves Hundreds of Millions of Dollars Worth of Bitcoin (BTC) to Binance

New data from market intelligence firm Lookonchain shows the deep-pocketed investor started moving massive amounts of Bitcoin to Binance on June 27th

A crypto whale has shifted hundreds of millions of dollars worth of Bitcoin (BTC) to Binance, the world’s largest crypto exchange platform by volume.

According to data from market intelligence firm Lookonchain, the whale began moving massive amounts of Bitcoin to Binance on June 27th. On July 8th alone, the whale moved hundreds of more BTC to the exchange.

In total, the whale has moved more than $468 million worth of Bitcoin to Binance since June 27th.

“The whale deposited 809 BTC ($45.18 million) to Binance again [July 8th]. He has deposited 7,790 BTC ($468 million) to Binance since June 27th and currently holds 6,559 BTC ($379 million).”

The German government is also continuing to move large amounts of Bitcoin to crypto exchanges, according to Lookonchain.

“The German government transferred 1,000 BTC ($55.8 million) out again [on July 8th], of which 500 BTC ($27.9 million) was deposited to Coinbase and Bitstamp.”

Germany was first spotted moving Bitcoin to exchanges in June. The BTC was seized by German authorities as part of an investigation into Movie2k.to, a now-defunct illegal streaming site that was accused of distributing more than 880,000 pirated films between 2008 and May 2013.

The Dresden Public Prosecutor’s Office said that the two operators of the site purchased Bitcoin using the proceeds of their illicit activities. Police confiscated nearly 50,000 BTC, which was valued at $2.17 billion at the time.

Bitcoin is trading for $55,905 at time of writing, down more than 11% in the last seven days.

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