US government moves 3,940 bitcoins worth $241 million onto crypto exchange Coinbase

ThelatestcryptonewsisthattheUSgovernmenthasmoved3,940bitcoinsworthover$241millionontocryptoexchangeCoinbase.

BitcoinNewsChainAnalysisMarketsUSGovernmentThelatestincryptonewsseestheUSgovernmenttransferring3,940bitcoinsvaluedatover$241millionontomajorcryptoexchangeCoinbase.OnchaindatashowedtheUSgovernment-linkedwalletsdepositingtheBTCintoCoinbasePrime.Atthetimeofthetransfer,thesaidwalletsstillheld213,546BTC,nowworthover$13billion,showedtheblockchainanalyticsaccount.AccordingtoblockchainsecurityfirmArkham,the3,940bitcoinsthattheUSsenttoCoinbasewereinitiallyseizedfromnarcoticstraffickerBanmeetSingh,whoisbasedinIndia.SinghultimatelyforfeitedtheBTCinJanuarythisyearafterpleadingguiltytodrugtraffickingandmoneylaunderingcharges.ThenewssawBitcoin’spriceslipbelow$61kagain,sheddingabout1.6%ofitsvaluetoreachlowsof$60,822.Withthemarketstilllargelyinadownwardmomentum,itislikelythatBTCcouldextendlossesasthemarketreacts.Notably,theUSgovernment’sBTCtransfertoacryptoexchange,likelytosell,comesamidasellingspreebywalletslinkedtotheGermangovernment.Earliertoday,LookonchainsharedonchaindatathatshowedtheGermangovernment’swalletsmoving750bitcoinsvaluedatover$46milliontotheBitstampandKrakenexchanges.ThesetransfersonWednesdayfollowedthemorethan2150BTCthesaidwalletshadalreadysenttoexchanges.WhiletheUSgovernmentreportedlyholds$13billionmoreofBTC,today’ssalesseesGermanyremainwith45,609BTCworth$2.81billion.

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