Whale Alert Reports 110.86 Million USDT Transfer From Kraken to Bitfinex
The transaction involved 110,855,337 USDT, equivalent to about $110.73 million, moving between two major cryptocurrency exchanges.
USDT
Fact Check
Whale Alert's own transaction page confirms the exact amount (110,855,337 USDT, ~$110.73M), the direction (Kraken to Bitfinex), and the on-chain network (Ethereum). The @whale_alert X post (status 2061411813753827789) reports the same figures. The claim's rounding to '110.86 million USDT' and '$110.73 million' matches the underlying data precisely.
Summary
A large Tether transfer was reported from Kraken to Bitfinex, with 110,855,337 USDT moved and valued in the source at $110,730,957. The transaction was identified as a transfer between two centralized cryptocurrency exchanges, which are trading platforms that hold customer assets and facilitate market activity. Large stablecoin movements like this are often monitored because they can reflect exchange treasury management, liquidity repositioning, or internal fund transfers, although the source does not specify the purpose of this transaction.
Terms & Concepts
- USDT: USDT is a stablecoin, a cryptocurrency designed to track the value of the U.S. dollar.
- Stablecoin: A stablecoin is a digital token intended to maintain a steady value, usually by being pegged to a fiat currency such as the U.S. dollar.
- Centralized exchange: A centralized exchange is a crypto trading platform operated by a company that manages custody, trading, and transfers for users.