German authorities withdrew another 700 BTC
German authorities withdrew 700 BTC (about $40 million) from a controlled crypto wallet to an unknown address. This follows from data on the Arkham Intelligence platform.
Journalist Colin Wu speculated that the recipient was an institutional counterparty or a large buyer in the over-the-counter market. This is the fourth major Bitcoin sale by the government since mid-June 2024.
According to the platform, authorities still control 39,826 BTC, worth a total of $2.29 billion. More than 10,000 BTC have been sold since mid-June:
