Tracking Whale Activity: $60 Million USDT Secured from Tether Treasury
A web3 data analysis tool called Lookonchain has revealed that a fund or institution recently obtained $60 million in USDT from the Tether Treasury. This adds to the total of $1.76 billion USDT received from the Tether Treasury and funneled into exchanges since October 20. Lookonchain also puts these numbers into perspective, stating that this amount is enough to purchase 44,000 Bitcoin (BTC) at an average price of $40,000.
Tether Treasury’s Significant Transactions
On November 22, Lookonchain reported another significant transaction involving the Tether Treasury. It was discovered that the Tether Treasury had minted an additional $1 billion. This tweet highlighted the fact that this entity had accumulated a staggering 1.13 billion USDT from the Tether Treasury within the past 32 days.
Continued Scrutiny and Concerns
These transactions are drawing attention from web analysis tools due to previous controversies surrounding Tether. Critics have raised concerns about its transparency and financial stability. The legal settlement with the New York Attorney General (NYAG) and allegations of counterfeit documentation being used by Tether’s partners to access bank accounts have only intensified the scrutiny and challenges faced by the project.
Hot Take: The Ongoing Saga of Tether’s Controversies
The recent revelations about Tether’s transactions from the Tether Treasury continue to fuel speculation and concern within the crypto community. With ongoing scrutiny and allegations surrounding its transparency and financial stability, it remains to be seen how these controversies will impact Tether’s future. As regulators and critics closely monitor its activities, it is clear that Tether will need to address these issues to maintain trust and credibility in the market. The crypto world will be watching closely for any developments or resolutions to the ongoing saga of Tether’s controversies.
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