A wealthy individual known as a crypto whale has decided to transfer a significant amount of Bitcoin (BTC) to Binance, the world’s largest cryptocurrency exchange platform in terms of trading volume. Recent data from Lookonchain, a market intelligence firm, reveals that this deep-pocketed investor initiated the transfer on June 27th and has since moved hundreds of millions of dollars’ worth of Bitcoin to Binance.

As of July 8th, the crypto whale has successfully transferred over $468 million worth of Bitcoin to the exchange. On July 8th alone, the whale deposited an additional 809 BTC ($45.18 million) to Binance, bringing the total amount deposited since June 27th to 7,790 BTC ($468 million). Currently, the investor holds 6,559 BTC ($379 million) on the platform.

In addition to the crypto whale’s activity, Lookonchain reports that the German government is also actively transferring large sums of Bitcoin to various crypto exchanges. On July 8th, the German government moved 1,000 BTC ($55.8 million) out of its holdings, with 500 BTC ($27.9 million) being deposited to Coinbase and Bitstamp.

This is not the first time Germany has been involved in moving Bitcoin to exchanges. In June, the German authorities seized BTC as part of an investigation into Movie2k.to, an illegal streaming website that allegedly distributed over 880,000 pirated films 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 the time, the police confiscated nearly 50,000 BTC, which was valued at $2.17 billion.

As for the current price of Bitcoin, it is trading at $55,905, representing a decrease of more than 11% in the past seven days.

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