Crypto Whale Moves $468 Million Worth of Bitcoin to Binance, German Government Continues to Transfer BTC to Exchanges
Crypto Whale Moves $468 Million Worth of Bitcoin to Binance, German Government Also Transfers Large Amounts
A mysterious crypto whale has been making waves in the cryptocurrency world by moving massive amounts of Bitcoin to Binance, the world’s largest crypto exchange platform. According to data from market intelligence firm Lookonchain, the whale has transferred over $468 million worth of Bitcoin to Binance since June 27th.
The whale recently deposited 809 BTC (approximately $45.18 million) to Binance on July 8th, bringing the total amount of Bitcoin moved to 7,790 BTC (around $468 million). The whale currently holds 6,559 BTC (approximately $379 million) on the exchange.
In addition to the crypto whale’s movements, the German government has also been transferring significant amounts of Bitcoin to crypto exchanges. Lookonchain reported that the German government moved 1,000 BTC (approximately $55.8 million) on July 8th, with 500 BTC (around $27.9 million) being deposited to Coinbase and Bitstamp.
The German government’s Bitcoin transfers are related to an investigation into Movie2k.to, an illegal streaming site that distributed over 880,000 pirated films between 2008 and May 2013. Authorities seized nearly 50,000 BTC (valued at $2.17 billion at the time) from the operators of the site, who had purchased Bitcoin using the proceeds of their illicit activities.
As of the time of writing, Bitcoin is trading at $55,905, down more than 11% in the last seven days. The movements of the crypto whale and the German government highlight the ongoing activity and interest in the cryptocurrency market.
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