Tether withdrew 7628.9 BTC from Bitfinex half an hour ago, equivalent to approximately $705 million

PANews reported on December 30 that according to on-chain analyst Ember Monitoring, USDT issuer Tether withdrew 7628.9 BTC (approximately US$705 million) from Bitfinex 30 minutes ago.

This should be the BTC purchased by Tether this quarter: Tether announced in May 2023 that it has decided to regularly use 15% of the company’s profits to purchase Bitcoin to enhance its reserves.

Tether currently holds a total of 82,983 BTC ($7.68 billion) and is the 6th largest BTC wallet address. Their comprehensive purchase cost of BTC is approximately US$36,222, and their current floating profit is as high as US$4.72 billion.