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Germany just learned a valuable lesson! In July, they sold 50,000 seized $BTC for $53,000 each, pocketing $2.8 billion. 👛
On that surface, a great deal. But today? That could’ve been double. ⏫
A former #German finance minister’s recent comment almost feels like a “we could’ve been richer” moment: 🙍🏻
Well he said : "It is time to recognize the opportunities of #Bitcoin in Germany." 🙇🏻
On that surface, a great deal. But today? That could’ve been double. ⏫
A former #German finance minister’s recent comment almost feels like a “we could’ve been richer” moment: 🙍🏻
Well he said : "It is time to recognize the opportunities of #Bitcoin in Germany." 🙇🏻
Crypto ATMs are targeted by the German BaFin authority.
There are presently 38,725 cryptocurrency ATMs in the world, the bulk of which are found in the United States, according to Coin ATM Radar.
As part of a crackdown on cryptocurrency ATMs, Germany's Federal Financial Supervisory Authority (BaFin) has confiscated 13 of these automated cash kiosks from 35 locations, the government agency said on August 20.
Together with the Federal Criminal Police Office, local law enforcement, and Germany's Bundesbank, the German financial regulator carried out the raids.
Section 32 of the Banking Act states that the ATM operators "illegally installed" the machines and neglected to register them, according to the government office. The Banking Act was allegedly violated by BaFin when euros were exchanged for cryptocurrency or vice versa.
Furthermore, according to German officials, cryptocurrency ATMs in general may become a hub for criminal activity if their owners neglect to implement appropriate Know Your Customer procedures for transactions above 10,000 euros.
Present conditions of cryptocurrency ATMs worldwide
Despite the fact that the total number of Bitcoin ATMs deployed globally in 2024 had been getting close to all-time highs, a drop of 440 crypto ATMs in July upset the upward trend in machine installation. By August 1, there had been a further reduction of 173 ATMs.
The number of crypto ATMs deployed has rebounded, and since the beginning of August, 266 more ATMs have been built, according to the most recent statistics from Coin ATM Radar.
Part of the reason for the July and early August decline of Bitcoin ATMs worldwide was US shutdowns. US law enforcement officials have taken multiple enforcement measures against Bitcoin ATM operators, including Bitcoin of America, even though the precise causes of the shutdowns have changed.
Following an allegation of conducting money transmitter services without a license from the state's Department of Banking, Bitcoin of America agreed to cease operations in Connecticut in 2023.
Following complaints from multiple clients alleging they were conned out of tens of thousands of dollars, the state regulator launched legal action against Bitcoin of America.
The operator of the Bitcoin ATM consented to pay $86,000 in compensation to the affected parties as part of the consent decree.
#CryptoMarketMoves #german #cryptocrackdown #BinanceLaunchpoolDOGS
As part of a crackdown on cryptocurrency ATMs, Germany's Federal Financial Supervisory Authority (BaFin) has confiscated 13 of these automated cash kiosks from 35 locations, the government agency said on August 20.
Together with the Federal Criminal Police Office, local law enforcement, and Germany's Bundesbank, the German financial regulator carried out the raids.
Section 32 of the Banking Act states that the ATM operators "illegally installed" the machines and neglected to register them, according to the government office. The Banking Act was allegedly violated by BaFin when euros were exchanged for cryptocurrency or vice versa.
Furthermore, according to German officials, cryptocurrency ATMs in general may become a hub for criminal activity if their owners neglect to implement appropriate Know Your Customer procedures for transactions above 10,000 euros.
Present conditions of cryptocurrency ATMs worldwide
Despite the fact that the total number of Bitcoin ATMs deployed globally in 2024 had been getting close to all-time highs, a drop of 440 crypto ATMs in July upset the upward trend in machine installation. By August 1, there had been a further reduction of 173 ATMs.
The number of crypto ATMs deployed has rebounded, and since the beginning of August, 266 more ATMs have been built, according to the most recent statistics from Coin ATM Radar.
Part of the reason for the July and early August decline of Bitcoin ATMs worldwide was US shutdowns. US law enforcement officials have taken multiple enforcement measures against Bitcoin ATM operators, including Bitcoin of America, even though the precise causes of the shutdowns have changed.
Following an allegation of conducting money transmitter services without a license from the state's Department of Banking, Bitcoin of America agreed to cease operations in Connecticut in 2023.
Following complaints from multiple clients alleging they were conned out of tens of thousands of dollars, the state regulator launched legal action against Bitcoin of America.
The operator of the Bitcoin ATM consented to pay $86,000 in compensation to the affected parties as part of the consent decree.
#CryptoMarketMoves #german #cryptocrackdown #BinanceLaunchpoolDOGS
Alts want to Pump Hard From here Just $BTC need to Stop Dumping more German Government Is in hand of small minded people who Selling Bitcoins at low with any law nf regulations due to German Government many small investors lossing Money Shameless Government of Germany need to stop Selling due to Think about Small investors investment Cryptocurrency markets.
#german #IntroToCopytrading #btcdump #btc #Binancepen_spark
#german #IntroToCopytrading #btcdump #btc #Binancepen_spark
Germany and Crypto
German government offloads its final Bitcoin holdings
The German government officially has zero BTC left after weeks of dumping its reserves onto the market, keeping the price below $60,000.
Germany’s government offloaded the last of its Bitcoin holdings on July 12, according to data from Arkham Intelligence.
The final transaction included 3,846 Bitcoin
sent to “Flow Traders and 139Po,” which Arkham described as “likely institutional deposit/OTC service.” The transaction followed weeks of increased selling pressure from the German government, which offloaded tens of thousands of Bitcoin in several tranches.Most of the 50,000 Bitcoin dumped by the German government over the last three weeks resulted from an asset seizure and was largely responsible for keeping the market below the $60,000 price point and its 200-day exponential moving average.
#write2earn #news #german #bitcoin #btc $BTC
German government offloads its final Bitcoin holdings
The German government officially has zero BTC left after weeks of dumping its reserves onto the market, keeping the price below $60,000.
Germany’s government offloaded the last of its Bitcoin holdings on July 12, according to data from Arkham Intelligence.
The final transaction included 3,846 Bitcoin
sent to “Flow Traders and 139Po,” which Arkham described as “likely institutional deposit/OTC service.” The transaction followed weeks of increased selling pressure from the German government, which offloaded tens of thousands of Bitcoin in several tranches.Most of the 50,000 Bitcoin dumped by the German government over the last three weeks resulted from an asset seizure and was largely responsible for keeping the market below the $60,000 price point and its 200-day exponential moving average.
#write2earn #news #german #bitcoin #btc $BTC
The German Government transferred a total of 1,250 BTC to the Kraken and Coinbase exchange. $BTC
#bitcoin #BinanceTournament #german
#bitcoin #BinanceTournament #german
German Government’s Bitcoin Holdings Rise to $3B+ Despite Selling 3K BTC
According to Ki Young Ju, Founder & CEO of CryptoQuant, the German government seized 50,000 Bitcoin, selling approximately 3,000 BTC. Notably, the recent surge in Bitcoin prices has led to a $1.1 billion unrealized profit, pushing the value of Germany’s remaining Bitcoin holdings to $3.24 billion. The chart by the CryptoQuant founder dubbed “BTC Unrealized Profit: German Government (BKA)” shows a correlation between Bitcoin’s price and the unrealized profit of the German government’s holdings. As Bitcoin’s price increases, so does the unrealized profit, particularly evident from January 2024 onwards. It is important to note that Germany’s Bitcoin holdings are now the fourth-largest among various governments, holding 50,000 BTC. This amount places Germany behind the United States, China, and the United Kingdom in terms of total Bitcoin holdings.
Comparatively, the United States holds the largest amount with 213,246 BTC, valued at $13.7 billion, followed by China with 190,000 BTC at $12.2 billion. The United Kingdom holds 61,000 BTC, valued at $3.9 billion. Germany’s supply ratio of 0.253% reflects its influence in the Bitcoin market, despite being smaller than the top holders.
Specifically, Ki Young Ju’s post highlights that China likely sold a significant portion of the seized Bitcoins in 2019, as PlusToken holdings were transferred to Chinese exchanges. However, the Chinese government has not officially confirmed these actions.
#germany #german #BinanceTournament #Megadrop
According to Ki Young Ju, Founder & CEO of CryptoQuant, the German government seized 50,000 Bitcoin, selling approximately 3,000 BTC. Notably, the recent surge in Bitcoin prices has led to a $1.1 billion unrealized profit, pushing the value of Germany’s remaining Bitcoin holdings to $3.24 billion. The chart by the CryptoQuant founder dubbed “BTC Unrealized Profit: German Government (BKA)” shows a correlation between Bitcoin’s price and the unrealized profit of the German government’s holdings. As Bitcoin’s price increases, so does the unrealized profit, particularly evident from January 2024 onwards. It is important to note that Germany’s Bitcoin holdings are now the fourth-largest among various governments, holding 50,000 BTC. This amount places Germany behind the United States, China, and the United Kingdom in terms of total Bitcoin holdings.
Comparatively, the United States holds the largest amount with 213,246 BTC, valued at $13.7 billion, followed by China with 190,000 BTC at $12.2 billion. The United Kingdom holds 61,000 BTC, valued at $3.9 billion. Germany’s supply ratio of 0.253% reflects its influence in the Bitcoin market, despite being smaller than the top holders.
Specifically, Ki Young Ju’s post highlights that China likely sold a significant portion of the seized Bitcoins in 2019, as PlusToken holdings were transferred to Chinese exchanges. However, the Chinese government has not officially confirmed these actions.
#germany #german #BinanceTournament #Megadrop