Binance received 271 million Tether (USDT) on Oct. 20 from a wallet with no identified owner, a large deposit that reveals nothing about whether the tokens were traded.
USDT is designed to track the U.S. dollar. At its intended value of $1 per token, the transfer represents about $271 million. The account of the movement does not identify who controls the sending wallet or establish what happened to the tokens after they arrived.
The amount exceeds a 150 million USDT deposit into Binance reported on Oct. 16, which also came from an unidentified wallet. An Oct. 19 transfer of 38.2412 million USDT reached Binance from an unidentified wallet as well.
Each deposit records tokens entering the exchange. Binance’s net USDT flow over any period would also depend on how much left during that time. The individual transfers therefore cannot show whether its USDT holdings rose or fell overall.
