U.S. Government Transfers 300 ETH 😱
The U.S. government transferred 300 Ether (approx. $699,000) from a seized funds wallet to another address on Aug. 5, according to #Arkham Intelligence.
This transfer occurred during a #decline in Ethereum's price, following the underwhelming performance of Ethereum exchange-traded funds (ETFs) and a broader financial market downturn.
The Bank of Japan's #interest rate hike exacerbated the selling pressure, leading to significant Ethereum sell-offs. CoinShares reported $146 million in outflows from Ethereum investment funds for the week, with a total of $430 million in outflows since the ETF launch.
