The post US Government Moves 3940 BTC Worth 240M To An Exchange appeared first on Coinpedia Fintech News
The US government has reportedly moved 3,940 Bitcoins to an exchange on June 26 leading to a sell-off speculation. The Bitcoins were seized from drug trafficker Banmeet Singh worth around $240 million. The tokens were moved from the US government’s wallet which approximately holds $13.4 billion worth of crypto, to Coinbase Prime. The US government is one of the largest Bitcoin whales in the world as the amount it holds equates to roughly 1% of Bitcoin’s total supply. Most of the US government’s crypto holdings, mainly accumulated through confiscation of criminal funds, consist of Bitcoin.