In a recent development, the German government has executed another significant Bitcoin transaction, moving 1,400 BTC, valued at approximately $80 million. This transaction is part of a series of Bitcoin transfers by the government.
On the 6th of July, a wallet linked to the German authorities sent 700 BTC to an unidentified wallet. The following day, the same amount was transferred again to the same destination. This activity was captured over the weekend, as reported by Arkham Intelligence, with the wallet in question now holding a total of 1,400 BTC.
This transfer represents the 14th substantial transaction from this state-associated Bitcoin address to external wallets within the past week. Despite these movements, Germany’s reserves still boast a staggering 39,800 BTC, equivalent to $2.2 billion.
German politician and Bitcoin proponent Joana Cotar has called for a halt to the rapid sale of Bitcoin by the government, suggesting that the cryptocurrency be retained as a strategic reserve to protect against uncertainties in the conventional financial system.
In related news, Ethereum’s co-founder Vitalik Buterin has also been active, transferring 100 ETH to a Gnosis Safe smart contract. This move, as per data from Akhram Intelligence, was a donation to Collective 2077, an Ethereum marketing group aiming to revitalize the platform’s image and presence.
Collective 2077, which operates as an unofficial marketing arm for Ethereum, comprises a team of researchers, developers, and marketers dedicated to reinvigorating Ethereum’s appeal. They expressed gratitude to Buterin for his contribution, which will support their innovative and community-focused initiatives.
Meanwhile, Ryan Selkis, CEO of Messari, has taken a bold stance against the SEC in a draft letter addressed to the U.S. Congress. In this yet-to-be-sent letter, Selkis criticizes SEC Chair Gary Gensler and declares a forthcoming campaign against the regulatory body, which he deems illegitimate and corrupt.
Lastly, the infamous crypto wallet drainer group, Inferno Drainer, has resumed its activities, transferring 303 ETH to the privacy-centric protocol Railgun. This transaction, highlighted by MistTrack, is part of the group’s continued efforts to evade traceability on the blockchain.
Despite a hiatus, Inferno Drainer has a notorious history, having siphoned off over $180 million in cryptocurrency from more than 189,000 victims since its emergence in August 2023, as reported by ScamSniffer on Dune Analytics.
The discourse surrounding Bitcoin’s Layer 2 solutions continues, with ongoing debates about their true classification and significance in the broader crypto ecosystem.