German government-labeled addresses appeared to send another 400 BTC ($24.34 million) to Coinbase and Kraken Tuesday morning, indicating a potential intention to sell the assets and following substantial transfers of its seized bitcoin last week, according to on-chain analytics provider Arkham.

“They have also moved 500 BTC ($30.4 million) to address 139Po. We have yet to see where these funds are moved” Arkham posted on X.

“This is in addition to $130 million BTC sent to exchanges on 19th June and $65 million BTC sent on 20th June, although they received $20.1 million back from Kraken and $5.5 million from wallets linked to Robinhood, Bitstamp and Coinbase,” the firm added

Meanwhile, German Federal Criminal Police Office (BKA) sent 200 BTC ($12.17 million) to each crypto exchange at …