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Tether CEO Says 951 BTC Transfer From Bitfinex Was Wallet Test

Paolo Ardoino said the movement of 951 Bitcoin from Bitfinex was only to test the Tether Wallet and was not a purchase funded by quarterly profits.

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Terms & Concepts
  • Bitcoin wallet: Software or hardware that stores cryptographic keys used to send and receive Bitcoin.
  • BTC: The ticker symbol for Bitcoin, the largest cryptocurrency by market value.
  • Quarterly profits: Company earnings reported for a three-month period, sometimes used to describe funds available for investment or reserves.