Bitcoin Whales Deposit Over 468 Million Worth of Bitcoin into Binance

Coin World News Report:
A crypto whale is transferring hundreds of millions of dollars worth of Bitcoin (BTC) to Binance, the world’s largest cryptocurrency exchange.
According to the latest data from market intelligence company Lookonchain, this wealthy investor started transferring a large amount of Bitcoin to Binance on June 27 and has recently moved hundreds of Bitcoins to the exchange.
As of July 8, this whale has transferred over $468 million worth of Bitcoin to Binance.
“On July 8, this whale once again deposited 809 Bitcoins ($45.18 million) into Binance. Since June 27, it has deposited 7,790 Bitcoins ($468 million) into the exchange and currently holds 6,559 Bitcoins ($379 million).”
Lookonchain also stated that the German government is continuing to transfer a large amount of Bitcoin to cryptocurrency exchanges.
“On July 8, the German government transferred another 1,000 Bitcoins ($55.8 million), with 500 Bitcoins ($27.9 million) being deposited into Coinbase and Bitstamp.”
In June, it was first discovered that Germany was transferring Bitcoin to exchanges. As part of an investigation into Movie2k.to, BTC was confiscated by German authorities. Movie2k.to was an illegal streaming website that has since been shut down and was accused of distributing over 880,000 pirated movies between 2008 and May 2013.
The Dresden Public Prosecutor’s Office stated that the operators of the website used the proceeds from their illegal activities to purchase Bitcoin. At that time, the police seized nearly 50,000 BTC, worth $2.17 billion.
At the time of writing, the trading price of Bitcoin is $55,905, a decrease of over 11% in the past seven days.
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