News Explorer — Germany's Bitcoin Selloff Expands With $362 Million More Moved

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Jul 9, 1:57 pm

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Germany's Bitcoin Selloff Expands With $362 Million More Moved

The German government has transferred $362 million worth of Bitcoin to Kraken and other crypto trading desks Tuesday morning. They control five different wallets with a combined $1.3 billion worth of Bitcoin. The transfers included $55 million to Kraken and $6 million to Cumberland DRW, with the bulk of the funds going to what is believed to be an institutional deposit/OTC service.

The German government has transferred $362 million worth of Bitcoin to Kraken and other crypto trading desks Tuesday morning. They control five different wallets with a combined $1.3 billion worth of Bitcoin. The transfers included $55 million to Kraken and $6 million to Cumberland DRW, with the bulk of the funds going to what is believed to be an institutional deposit/OTC service.

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