Tether Treasury received about $113 million in Tether (USDT) from Bitfinex on Oct. 21, in a transfer of a stablecoin used across cryptocurrency markets worldwide.
USDT is a stablecoin used across cryptocurrency markets and intended to keep a steady value. Bitfinex, a cryptocurrency exchange, has frequently handled large USDT transactions. Tether Treasury was named as the destination.
No reason was given for the transfer, and the available details do not indicate how Tether Treasury will handle the tokens. The transfer details do not indicate whether Tether had issued or redeemed the tokens, or whether they later re-entered circulation. The movement provides no basis for determining whether trading liquidity or market sentiment changed.
The move followed a separate Oct. 20 transfer of 100,980,000 USDT from Bitfinex to Tether Treasury on Tron. Whale Alert also logged a 140 million USDT transfer from Bitfinex to the same treasury on Tron on Oct. 9.
