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120 Million USDT Moved From Bitfinex to Tether Treasury

120 Million USDT Moved From Bitfinex to Tether Treasury

Blockchain transfer tracking shows 120,000,000 USDT, valued at $119,913,600, sent from Bitfinex to Tether Treasury.

USDT

Fact Check
Both the Whale Alert X post and the corresponding on-chain Solana transaction record corroborate the exact figures in the claim: 120,000,000 USDT valued at $119,913,600 moved from Bitfinex to Tether Treasury. The transaction hash is verifiable on the Solana explorer.
    Reference: 12
Summary

A transfer of 120,000,000 USDT, worth $119,913,600, was reported from Bitfinex to Tether Treasury. Tether Treasury typically refers to wallets controlled by Tether, the issuer of the USDT stablecoin (a cryptocurrency designed to maintain a fixed value). Such treasury transfers are commonly watched by market participants because they can reflect internal treasury management, inventory movements, or token supply operations, although the source text does not specify the purpose of this transaction.

Terms & Concepts
  • USDT: A stablecoin (cryptocurrency pegged to fiat value) issued by Tether and designed to track the U.S. dollar.
  • Tether Treasury: Wallets controlled by Tether that are used for treasury management, issuance, redemption, or movement of USDT tokens.
  • Stablecoin: A cryptocurrency designed to maintain a relatively stable price, often by being linked to a fiat currency such as the U.S. dollar.