It became known why the world’s leading countries are actively selling confiscated cryptocurrency

Over the past few weeks, the German and US governments have stepped up cryptocurrency transfers from wallets, according to Arkham analytics platform. The transactions, amounting to millions of dollars, mostly consist of confiscated bitcoins.

Market participants interpret these actions as governments' intentions to sell assets on cryptocurrency exchanges. According to Arkham, the German government has transferred another 400 BTC (over $ 25 million) to Bitstamp, Coinbase, and Kraken exchanges. In total, 2,700 BTC (approximately $ 170 million) were transferred from the wallet to exchanges in two weeks.

on June 19, 7,500 BTC were transferred from the German government wallet, 200 of them to Coinbase. The funds were probably confiscated from the founders of the pirate website Movie2k in January. Another 200 BTC were sent to Coinbase and Kraken on June 25. The wallet still has about 44,000 bitcoins worth $ 2.7 billion.

At the same time, 3,375 ETH ($ 11.7 million) were transferred from the wallet controlled by the US government to a new address. The wallet contains assets confiscated from the founders of the cloud mining platform HashFlare and the digital bank Polybius Bank, Sergey Potapenko and Ivan Turogin. on June 28, 11.84 bitcoins ($ 726,000) were transferred from the same wallet.

According to Arkham, the US-controlled wallets hold more than $ 13 billion in confiscated crypto assets in bitcoin and various stablecoins (from USDT to DAI), as well as ETH and other tokens. on June 26, $ 240 million worth of confiscated bitcoins were transferred from one of the US government’s wallets to the Coinbase exchange.