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Crypto Weekend Highlights: Germany Shifts $80M in BTC, Vitalik Buterin Gifts 100 ETH

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Crypto Weekend Highlights: Germany Shifts $80M in BTC, Vitalik Buterin Gifts 100 ETH

Crypto Weekend Highlights: Germany Transfers Additional $80M in Bitcoin, Vitalik Buterin Donates 100 ETH

Crypto Weekend Highlights– The German government has recently transferred another 1,400 Bitcoin, worth $80 million at current prices, continuing its pattern of Bitcoin movements.

On July 6, a wallet address linked to the German government sent 700 BTC to an unknown wallet. The following day, on July 7, the same address transferred another 700 BTC to the same destination.

Crypto Weekend Highlights: Germany Shifts $80M in BTC, Vitalik Buterin Gifts 100 ETH

According to data from the blockchain analytics platform Arkham Intelligence, the wallet now holds a total of 1,400 BTC.

This marks the 14th major movement from the government-linked BTC address to external wallets in the past week. Despite the recent series of transfers, the German government still holds an impressive 39,800 BTC, worth $2.2 billion, in reserve.

On July 5, German lawmaker and Bitcoin activist Joana Cotar urged the government to halt its hasty Bitcoin selling spree. She advocated for maintaining Bitcoin holdings as a strategic reserve currency to protect against risks in the traditional financial system.

Vitalik Buterin’s Weekend Donation

Ethereum co-founder Vitalik Buterin also made some significant transfers over the weekend.

Crypto Weekend Highlights: Germany Shifts $80M in BTC, Vitalik Buterin Gifts 100 ETH

On July 6, Buterin transferred 100 Ether, worth approximately $2,908 each, to a Gnosis Safe smart contract, according to data from Arkham Intelligence. The transaction was later confirmed to be a donation to the Ethereum marketing studio Collective 2077.

Collective 2077, describing itself as Ethereum’s unofficial marketing studio, is a group of researchers, developers, and marketers with the goal to make Ethereum great again.

In a July 6 post on X, the official account for Collective 2077 thanked Buterin for his donation, stating that the funds would support their efforts to improve Ethereum’s presence and appeal through innovative initiatives and community-driven efforts.

Ryan Selkis Declares War on the SEC in Draft Letter to Congress

Ryan Selkis, the CEO and founder of crypto intelligence firm Messari, has declared himself an adversary of the SEC in a draft letter addressed to the United States Congress.

On July 6, Selkis posted a draft version of the letter to X, stating that he has declared independence from the SEC. He added that his firm would be operationalizing a war against this illegitimate and corrupt agency in the coming months.

Crypto Weekend Highlights: Germany Shifts $80M in BTC, Vitalik Buterin Gifts 100 ETH

In the letter, Selkis criticized SEC Chair Gary Gensler, calling him corrupt and incompetent. He argued that the SEC has no legitimate claim to regulate crypto markets and accused the regulator of ensuring continued losses for U.S.-based crypto firms.

Inferno Drainer Resurfaces with Major Transfer to Ethereum Privacy Protocol

Notorious crypto wallet drainer group Inferno Drainer has resurfaced with its first major transfer in several months, sending 303 ETH to the Ethereum privacy protocol Railgun on July 7.

Crypto Weekend Highlights: Germany Shifts $80M in BTC, Vitalik Buterin Gifts 100 ETH

In a July 7 post on X, crypto analytics service MistTrack highlighted the recent transfer from a wallet associated with the drainer. According to MistTrack, the group transferred 303 ETH, worth $880,000 at current prices, to Railgun, a privacy-preserving protocol that prevents blockchain transfers from being easily traced.

Inferno Drainer’s last significant activity was on May 18, when it transferred a total of 200 ETH, worth $618,000 at the time, to the CoW protocol. The CoW protocol is a suite of Ethereum-based products that includes a decentralized exchange aggregator and an automated market maker.

Crypto Weekend Highlights: Germany Shifts $80M in BTC, Vitalik Buterin Gifts 100 ETH

Data from ScamSniffer on Dune Analytics indicates that Inferno Drainer has stolen more than $180 million in crypto from over 189,000 victims since its inception in August 2023.

For the latest in crypto updates, keep tabs on Crypto Data Space.

Crypto Weekend Highlights: Germany Shifts $80M in BTC, Vitalik Buterin Gifts 100 ETH

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