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☆ The German government owns around $2 billion in bitcoin — and it's freaking out crypto investors
▼ + stars: | 2024-07-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Bitcoin has also been under selling pressure from the German government as well as collapsed bitcoin exchange Mt. Last month, the German government began selling bitcoin from a wallet operated by the country's Federal Criminal Police Office, referred to locally as the Bundeskriminalamt, or BKA. Bitcoin price reactionIn tandem with these sales, bitcoin has seen its price fall dramatically. At one point in the day, the entire crypto market had shed more than $170 billion in combined market capitalization in a 24-hour period, CoinGecko's data showed. Germany's bitcoin sales aren't the only concern for crypto investors.

Persons: Bitcoin, it's, wasn't, bitcoin, —, Nobuaki Kobayashi, James Butterfill, CoinShares, Germany's BKA, Joana Cotar, Cotar, Olaf Scholz, Christian Lindner, Michael Kretschmer, she's, Samson Mow Organizations: Federal Criminal Police, Arkham Intelligence, CNBC, Saxony, Federal Criminal Police Office, German Bundestag Locations: Gox, bitcoin, Germany, Saxony, Federal Republic of Germany, German, Berlin

☆ Germany far-right trial: Nine accused of plotting to overthrow government go on trial
▼ + stars: | 2024-04-29 | by ( Inke Kappeler | ) edition.cnn.com time to read: +2 min

CNN —Nine suspected members of a German far-right group accused of plotting to overthrow the government and install a minor royal as leader went on trial at a high-security courtroom in Stuttgart on Monday. The plot to overthrow the government and install martial law was exposed in 2022. Heinrich XIII Prince Reuss is a descendant of the House of Reuss, the former ruling family of parts of eastern Germany. Two of the defendants are accused of violating the Weapons and War Weapons Control Act. “One of these two defendants is also accused of attempted murder, dangerous bodily harm, resisting and assaulting law enforcement officers,“ according to the court.

Persons: Heinrich XIII Prince Reuss, —, Frank, Walter Steinmeier, of Reuss, “, General Organizations: CNN, Monday, Prosecutors, Bundestag —, Stuttgart Higher, Federal Public, Control Locations: Stuttgart, Germany, Frankfurt, Munich, German

The demonstrations came in the wake of a report that right-wing extremists recently met to discuss the deportation of millions of immigrants, including some with German citizenship. Some members of the far-right Alternative for Germany party, or AfD, were present at the meeting. Additional protests planned for Sunday in other major German cities, including Berlin, Munich and Cologne, are also expected to draw tens of thousands of people. What started out as relatively small gatherings have grown into protests that, in many cases, are drawing far more participants than organizers expected. The protests also build on growing anxiety over the last year about the AfD’s rising support among the German electorate.

Persons: Germany’s, Martin Sellner, Alice Weidel, Chancellor Olaf Scholz, ” Scholz, ” Friedrich Merz, ”, Thomas Tuchel Organizations: BERLIN, Germany, Police, Hannover, Identitarian, Identitarian Movement, Austrian, Germany’s Greens, “, Christian, Bayern Munich Locations: Germany, Frankfurt, Stuttgart, Nuremberg, Hamburg, Berlin, Munich, Cologne, Nazi, Bavaria, Hesse, Brandenburg, Saxony, Thuringia, Dresden, Tuebingen, Kiel

A director at the nonprofit Foxglove, which has helped organise a content moderators' campaign over their work conditions, described the move as "outrageous bullying". Following his appearance, trade union Verdi said Haksöz had been placed on a paid leave of absence pending an internal investigation. Meta and other social media companies have faced criticism over the working conditions of content moderators who aim to keep their platforms free from harmful material. In 2020, the firm paid a $52 million settlement to American content moderators suffering long-term mental health issues. "Cengiz was invited to testify to the German parliament about the dangerous working conditions on social media’s factory floor.

Persons: Verdi, Cengiz, Haksöz, Cengiz Haksöz, Christoph Schmitz, Schmitz, Martha Dark, Martin Coulter, Hakan Ersen, Hugh Lawson Organizations: TELUS International, Digital, TELUS, Facebook, Reuters, Haksöz, Meta, Thomson Locations: Germany

☆ Germany's foreign minister: Parts of China trip 'more than shocking'
▼ + stars: | 2023-04-19 | by ( Alexander Ratz | ) www.reuters.com time to read: +2 min

[1/2] German Foreign Minister Annalena Baerbock speaks during a joint press conference with Chinese Foreign Minister Qin Gang (not pictured) at the Diaoyutai State Guesthouse in Beijing, China, April 14, 2023. Suo Takekuma/Pool via REUTERS/File PhotoBERLIN, April 19 (Reuters) - German Foreign Minister Annalena Baerbock on Wednesday described parts of her recent trip to China as "more than shocking" and said Beijing was increasingly becoming a systemic rival more than a trade partner and competitor. Beijing in turn asked Germany to support Taiwan's "reunification" and said China and Germany were not adversaries but partners. Speaking to the German Bundestag (lower house of parliament) on Wednesday about her China trip, Baerbock said "some of it was really more than shocking". China is Germany's largest trading partner, said Baerbock, but this did not mean Beijing was also Germany's most important trading partner.

☆ German government rejects Bavaria's request for nuclear power comeback
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +1 min

BERLIN, April 16 (Reuters) - Germany's Environment Ministry on Sunday rejected a demand from the state of Bavaria to allow it to continue operating nuclear power plants, saying jurisdiction for such facilities lies with the federal government. Germany pulled the plug on its last three nuclear power stations on Saturday, ending a six-decade programme, as Berlin enacts a plan to move to fully renewable electricity generation by 2035. The state is home to Isar II, run by German utility E.ON (EONGn.DE), which is a 1,400 megawatt (MW) plant, able to power the equivalent of a metropolis. Environment Minister Steffi Lemke said the authorisation for Isar II had expired and restarting its reactor would require a new license. "It is important to accept the state of the art in science and technology and to respect the decision of the German Bundestag," Lemke said in a statement sent to Reuters.

[1/7] BERLIN, GERMANY - MARCH 30: King Charles III addresses members of the German Bundestag at the Reichstag Building on March 30, 2023 in Berlin, Germany. The king, on the second day of a three-day trip to Germany, alternated between German and English for the half-hour speech, which won a standing ovation from lawmakers. Both Britain and Germany had shown "vital leadership", Charles said, praising Berlin's decision to provide large military support to Ukraine as "remarkably courageous, important and appreciated". Throughout his visit, German officials have praised his interest in environmental causes and sustainability that has shone through in the engagements he has chosen to understake. Charles had been due to travel first to France but cancelled that part of the tour due to violent social unrest there.

☆ Germany to send additional 12 billion euros in military support to Ukraine
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 29 (Reuters) - The German government has agreed to send an additional 12 billion euros ($13.01 billion) worth of military support to Ukraine. The additional funding includes 3.2 billion euros to be disbursed in 2023 and credit lines for the period between 2024 and 2032 amounting to some 8.8 billion euros. "With the money, Ukraine can directly buy armaments with the support of the German government," three politicians representing the coalition government on the committee said in a statement. "It is important to support Ukraine as long as necessary," they said. Since the start of the Russian invasion, the German government has made available more than 14.2 billion euros in support for Ukraine, according to the foreign office.

☆ Scholz to seek reforms to boost EU competitiveness at Brussels summit
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

BERLIN, March 16 (Reuters) - German Chancellor Olaf Scholz said on Thursday he will seek to boost European competitiveness through reforms at an EU summit in Brussels next week, including making state aid more flexible and completing capital markets and banking unions. In a speech to the German Bundestag, Scholz urged the European Union to pull together to face a raft of challenges, including in response to a massive U.S. subsidy programme for clean technologies known as the Inflation Reduction Act. The EU is unveiling a Critical Raw Materials Act aimed at keeping pace with the United States and China in access to raw materials. Scholz said raw material security will also top the agenda when he visits Japan for talks this week. Turning to the war in Ukraine, Scholz said that EU member states will agree further measures to improve the continued supply of arms and ammunition to Kyiv, without going into specifics.

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