Tether And Bitfinex Exchange Massive Amount Of Funds [Transaction Details Included]


Tether And Bitfinex Exchange Massive Amount Of Funds

We are in the middle of a bull run right now since Bitcoin’s price spiked last month. This has made several transactions happen, some of them with big values. A Twitter profile known as Whale Alerts is constantly scouring the internet on the lookout for the largest transactions.

Something that has concerned some users now is that Bitfinex-Tether is part of some of the latest transactions, which is at least suspicious after all the controversy surrounding the company at the moment, which was started after Tether loaned money to Bitfinex in what was deemed as an illegal move by the New York Attorney General.

In the last two days, Whale Alert has tracked several large transactions from Bitfinex to Tether and vice versa. Millions of USDT tokens were exchanged between the companies in over eight large transactions.

The first one was made from Bitfinex to the Tether Treasury and it moved 10,000,000 USDT tokens. A similar transaction was made soon afterward moving again the same amount of tokens back from Tether to Bitfinex. In the same day, Tether transferred more 20,000,000 USDT tokens to Bitfinex once more.

At the end of the day, two more transactions were made, each one of them of 5,000,000 USDT. First, the money went from Bitfinex to Tether and then back.

Then today, around five hours ago (at the time of this report), Whale Alert showed that Bitfinex transferred 73,000,000 USDT tokens to the Tether Treasury. Soon afterward, two 4,995,000 USDT transactions were made from the Tether Treasury to an unknown crypto wallet.

Less than an hour ago, the Tether Treasury is continuing to send USDT to unknown wallets. First 5,171,523 USDT tokens and them more 7,972,020 tokens.

It should also be that TrueUSD Print just informed that Tether printed 100,000,000 USDT tokens today.

The Reason For The Transactions

At the moment, users can only speculate about the real reasons which moved the company in order to make the transactions go forward. The truth is that no one knows why this is happening, although there is plenty of speculation that it may be related to the court case that both companies are facing.

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