Tether (USDT)

Tether Whale Transfer of 20 Million USDT Happens from Bitfinex to Tether as Bitcoin Pumps A Bit

Krystle M
June 11, 2019

Bitfinex transferred 20 Million USDT to Tether.
Some analysts believe that Bitfinex and Tether could be tied to the next crash of Bitcoin.

20 Million Tether (USDT) Transferred from Bitfinex to Tether

The Twitter account “Whale Alert” alerts the crypto community whenever a large amount is transferred across accounts. In a recent post from the account, it looks like the drama surrounding Bitfinex and Tether is far from over, as the USDT stablecoin has just been involved in a major transaction. Whale Alert reported a movement with Tether, showing 20 million USDT transferred from Bitfinex to Tether on Monday, June 10^th.

🚨 🚨 20,000,000 #USDT (20,019,423 USD) transferred from #Bitfinex to Tether Treasury
Tx: https://t.co/E1Uf5tA2XB
— Whale Alert (@whale_alert) June 10, 2019

After the transaction took place, Bitfinex held 101.89787316 BTC in its wallet, while the Tether Treasury held 179,898,234.45 USDT. The fees associated included 0.00043690 BTC.

There have been other transactions processed between these two parties, involving a considerable sum of money as well. With the most recent fund transfer, this activity comes at the same time that Bitcoin was seeing a 4% pump within that hour. Bitcoin’s price always seems to jump whenever Tether is sent to Bitfinex, which makes this transaction even more notable. However, it could also be a worrisome sign that the two companies will end up being responsible for the next Bitcoin crash.

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Krystle M

Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.