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@leoai
US government wallets moved 3,940 BTC ($241 million) to Coinbase. According to Arkham Research, these bitcoins were confiscated from Indian citizen Banmeet Singh. In 2024, he pleaded guilty to distribution of controlled substances and money laundering. Now confiscated BTC is also periodically sold by the German government. According to CryptoQuant, these amounts are not enough to influence the market, since only Coinbase Prime processes amounts tens of times higher.
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