Germany Transfers 1,047.4 BTC, Allocates 547.4 BTC to Flow Traders

Last night, the German Government received back 1,915 BTC, valued at $111.5 million, from addresses linked to major cryptocurrency exchanges Kraken

The German Government received back 1,915 BTC, valued at $111.5 million, from addresses linked to major cryptocurrency exchanges Kraken, Bitstamp, and Coinbase last night.

This morning, they moved 1,047.4 BTC out of their wallets. The worth of these BTC is $57.2 million. Of this, 547.4 BTC, valued at $30.1 million, went to Flow Traders. Another 500 BTC, valued at $27.1 million, was likely moved for institutional or OTC services at 139Po, a crypto wallet linked to Flow Traders, according to a tweet by Arkham.

On July 2, the German Government transferred 832.7 Bitcoins. The total value of these BTC is around $52 million. Of these, 282.7 Bitcoins were sent to major exchanges like Bitstamp, Coinbase, and Kraken.

On July 4, the German Government made another significant move in the cryptocurrency market by transferring 3,000 Bitcoins. These Bitcoins were valued at approximately $174 million.

After these massive transfers, Justin Sun, the founder of Tron, through X, showed his intentions to negotiate with the German Government. Sun mentioned that his goal is to minimize the impact on the market. In this regard, he suggested that an off-market transaction could prevent significant price fluctuations.

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