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Over the weekend, Vitalik Buterin donated 100 ETH to Ethereum's marketing studio, and the German government transferred $80 million worth of Bitcoin to an unknown wallet. These significant crypto transactions highlight ongoing developments in the digital currency landscape.
Vitalik Buterin Donates 100 ETH; German Government Transfers $80 Million in Bitcoin
Vitalik Buterin has donated 100 ETH to make Ethereum "great again," and the German government has transferred $80 million in BTC to an unknown wallet.
In its most recent series of Bitcoin transactions, the German government has transmitted an additional 1,400 Bitcoins, currently valued at $80 million at current prices.
On July 6, a wallet address associated with the German government transmitted 700 BTC to an unknown address. A day later, on July 7, the exact address transferred an additional 700 BTC to the same address.
Arkham Intelligence's blockchain analytics platform has reported that the wallet currently contains 1,400 BTC.
According to the data (via Cointelegraph), this represents the fourteenth significant transfer from the government-linked BTC address to external wallets in the past week.
Despite the recent surge in remittances, the German government maintains a substantial reserve of 39,800 BTC (equivalent to $2.2 billion).
Joana Cotar, a German lawmaker and Bitcoin activist, implored the government on July 5 to halt its "hasty"Bitcoin selling spree and maintain its Bitcoin holdings as a "strategic reserve currency" to protect against risks in the traditional system.
Vitalik Buterin Donates 100 ETH to Support Ethereum Marketing Studio Collective 2077
Over the weekend, Vitalik Buterin, the co-founder of Ethereum, also executed some own transfers.
According to Akhram Intelligence data, on July 6, Buterin transferred 100 Ether to a Gnosis Safesmart contract.
Subsequently, it was verified that the transaction was a donation to the Ethereum marketing studio Collective 2077.
Collective 2077, a group of researchers, developers, and marketers, identifies as Ethereum's unofficial marketing studio. Their stated objective is to “make Ethereum great again.”
The official account for Collective 2077 expressed gratitude to Buterin for his donation in a post on July 6 to X. The account stated that the funds would be allocated to the organization's endeavors to “improve Ethereum’s presence and appeal through innovative initiatives and community-driven efforts.”
Messari CEO Ryan Selkis Declares Opposition to SEC, Criticizes Agency's Crypto Regulation
In a draft letter to the United States Congress, Ryan Selkis, the CEO and founder of crypto intelligence firm Messari, designates himself as an enemy of the SEC.
Selkis stated that he has "declared independence" from the SEC and that his firm would be "operationalizing a war against this illegitimate and corrupt agency" in the coming months. He posted a draft version of the letter to X on July 6, which has not yet been sent.
In the letter, Selkis criticized SEC Chair Gary Gensler as corrupt and ineffective, contending that the SEC has "no legitimate claim" to regulate crypto markets. He also criticized the regulator for ensuring that U.S.-based crypto firms continue to experience losses.
He stated that the letter's draft would be "polished" and sent to Congress in the upcoming weeks.
Inferno Drainer Transfers $880,000 in ETH to Railgun, Marking Major Move Since May
On July 7, the Ethereum privacy protocol Railgun received 303 ETH from the notorious crypto wallet drainer group Inferno Drainer, marking its first significant transfer in several months.
MistTrack, a crypto analytics service, identified a recent transfer from a wallet associated with the siphon in a post on X on July 7.
MistTrack reports that the drainer group transmitted 303 ETH, equivalent to $880,000 at current prices, to Railgun, a privacy-preserving protocol that obstructs the easy tracking of blockchain transfers.
The most recent series of transfers by Inferno Drainer occurred on May 18, during which 200 ETH were transferred to the CoW protocol. The CoW protocol is a suite of Ethereum-based products that includes a decentralized exchange aggregator and automated market maker. At the time, the value of the ETH was $618,000.
As data from ScamSniffer on Dune Analytics indicates, Inferno Drainer has successfully stolen over $180 million in cryptocurrency from more than 189,000 victims since its inception in August 2023.
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