US and Germany Transfer Seized Crypto Worth $1.14 Billion to Exchanges

Daily Top Performer — Gifto (GFT)

The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 2.28% and 3.53%, respectively, in the past 24 hours as the market reels from potential selling opportunities.

Today's top performer is GFT, which surged 12.9% following the introduction of Gifto Wallet 2.0, a leading cryptocurrency management app enhanced for Web3, NFTs, and DEX.

Gifto (GFT), created in 2017, is a blockchain-based platform for gifting and trading digital assets like NFTs. It features a user-friendly interface, staking for GFT tokens, and operates across multiple blockchain networks. Recently, the platform announced the upcoming launch of Gifto Wallet 2.0, which aims to position itself as a leading app for managing and saving cryptocurrencies. The update will enhance its utility in the Web3 space, with added features supporting NFTs, decentralized exchanges (DEX), and digital gifting.

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Talk of the Town:

The German and US governments have transferred approximately $737.6 million worth of bitcoin to exchanges, with Germany responsible for about three-quarters of these transactions. These actions, largely from seized assets, include significant transfers to Coinbase, Bitstamp, and Kraken. While not all transferred bitcoins may have been sold, the U.S. has shifted its approach from auctioning to directly selling on exchanges. In addition to bitcoin, the U.S. has also sold around $49.1 million in seized Ethereum since 2020. Collectively, over the past four years, the U.S. and Germany have moved nearly $1.14 billion in crypto to trading platforms, with the U.S. still holding about $13.3 billion in various cryptocurrencies.

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Airdrop to Watch:

Etherfi's wrapped Ethereum (weETH) is now available on Scroll x Mitosis. Users can deposit weETH on Mitosis to earn rewards like Scroll Marks, Mitosis MITO Points, Etherfi Loyalty Points, and EigenLayer Points. To deposit, users need to swap or acquire Mitosis on platforms like Base or Linea, bridge weETH to Scroll via Stargate, and then deposit it on Mitosis. Links are provided for acquiring weETH, bridging to Scroll, and depositing to Mitosis.