Tether Whale Transfer of 20 Million USDT Happens from Bitfinex to Tether as Bitcoin Pumps A Bit
- 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 10th.
— 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.