{"id":33141,"date":"2024-06-26T19:38:19","date_gmt":"2024-06-26T19:38:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/us-government-transfers-3940-btc-worth-241-million-to-coinbase\/"},"modified":"2024-06-26T19:38:19","modified_gmt":"2024-06-26T19:38:19","slug":"us-government-transfers-3940-btc-worth-241-million-to-coinbase","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/us-government-transfers-3940-btc-worth-241-million-to-coinbase\/","title":{"rendered":"US government transfers 3,940 BTC worth $241 million to Coinbase"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>US government moved 3,940 Bitcoin (BTC), which was worth over $241 million at the time, to Coinbase.<\/li>\n<li>This comes amid another sell-off by the German government, which has sold BTC since last week.<\/li>\n<li>Bitcoin price slipped 1.6% after the news, trading below $61k.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The latest crypto news is that the US government has moved 3,940 <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">bitcoins<\/a> worth over $241 million onto crypto exchange Coinbase.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Specifically, Lookonchain <\/span><a href=\"https:\/\/x.com\/lookonchain\/status\/1806012409372614905\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">noted<\/span><\/a><span style=\"font-weight: 400\"> that US government-linked wallets had deposited the BTC into Coinbase Prime. Per the blockchain analytics account, the said wallets still hold 213,546 BTC currently worth over $13 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to <\/span><a href=\"https:\/\/x.com\/ArkhamIntel\/status\/1806012299494273149\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">blockchain security firm Arkham<\/span><\/a><span style=\"font-weight: 400\">, the 3,940 bitcoins the US sent to Coinbase was originally seized from Banmeet Singh, an Indian narcotics trafficker. Singh forfeited the BTC in January this year after pleading guilty to drug trafficking and money laundering charges.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Germany, US selling Bitcoin<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The news saw Bitcoin price slip below $61k again, shedding about 1.6% of its value to reach lows of $60,822. With the market still largely in downward momentum, its likely BTC could extend losses as the market reacts.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Notably, the US government\u2019s BTC transfer to a crypto exchange, probably to sell, comes amid a selling spree by wallets linked to the German government.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Earlier in the day, Lookonchain shared on-chain data that showed the German government\u2019s <a href=\"https:\/\/coinjournal.net\/news\/germans-bka-transfers-more-bitcoin-to-exchanges-including-kraken-and-bitstamp\/\">wallets moved 750 bitcoins worth over $46 million<\/a> to Bitstamp and Kraken exchanges. These transfers on Wednesday followed the more than 2150 BTC the said wallets had already sent to exchanges.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While the US government reportedly holds $13 billion more of BTC, today\u2019s sales sees Germany remain with 45,609 BTC worth $2.81 billion.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/us-government-transfers-3940-btc-worth-241-million-to-coinbase\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) US government moved 3,940 Bitcoin (BTC), which was worth over $241 million at the time, to Coinbase. This comes amid another sell-off by the German government, which has sold BTC since last week. Bitcoin price slipped 1.6% after the news, trading [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":33142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33141"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33141"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33141\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33142"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}