Tether Issues Additional $1 Billion…Large-Scale USDT Deposits to Exchanges Over the Week
Heecheol Yang
Summary
- Tether (USDT) was reported to have conducted an additional issuance of $1 billion.
- An institutional wallet associated with Cumberland received USDT worth $555 million from Tether and deposited it to an exchange.
- It was also reported that Abraxas Capital received USDT worth $434 million from Tether before transferring it to an exchange.
Stablecoin issuer Tether (USDT) has issued an additional $1 billion (USD), while major funds transfers to exchanges have also been active.
According to on-chain data platform Arkham Intelligence on the 3rd (local time), evidence has emerged that in the past week, two major institutional wallets received large sums of Tether and subsequently deposited them to exchanges.
The wallet address '0xf4AE', known to be associated with the cryptocurrency liquidity provider Cumberland, received USDT worth $555 million (about ₩757.4 billion) from Tether and then deposited it to an exchange.
Abraxas Capital also received USDT worth $434 million (₩592.5 billion) from Tether before transferring it to an exchange.
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
