CEX returned more than $200 million in Bitcoin to the German government address, possibly because it failed to sell within the target price range

According to Arkham monitoring, the German government address received a total of 3,673 bitcoins (worth more than $200 million) early this morning, of which 3,623 bitcoins came from Coinbase, Kraken and Bitstamp, and 50 bitcoins came from addresses starting with bc1qxw. Steven Zheng, director of research at The Block, said that these exchanges are likely to return bitcoins to the German government address because they cannot sell their bitcoins within the target price range. Steven Zheng said: "Considering that some bitcoins have been returned from Coinbase to the German government address, it can be assumed that they are unsold bitcoins and are part of the sales agreement between the cryptocurrency exchange and the country." Data shows that the German government currently holds 27,461 bitcoins, equivalent to about $1.56 billion. (The Block)