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 <p class="is-style-lead">Lookonchain, a web3 data <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> tool that tracks <a rel="dofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> activity, shared a post on X that one fund or institution had secured $60 million in USDT from the Tether Treasury.</p> 
 <p>This brings the total to $1.76 billion USDT received from Tether Treasury and subsequently funneled into exchanges since Oct. 20.</p> 
 <p>As part of the post, Lookonchain puts these numbers into perspective, highlighting the sum is enough to acquire 44,000 Bitcoin (BTC) at an average price of $40,000.</p> 
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    <p lang="en" dir="ltr">The mysterious fund/institution received 60M $USDT from #TetherTreasury again 2 hours ago.<br><br>This fund/institution has received a total of 1.76B $USDT from #TetherTreasury and transferred to exchanges since Oct 20.<br><br>The 1.76B $USDT can buy 44K $BTC at an average price of $40,000. pic.twitter.com/POIWCHo3Gg</p>— Lookonchain (@lookonchain) December 8, 2023
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 <p>On Nov. 22, Lookonchain also reported significant Tether <a rel="dofollow" title="treasury" href="https://thebittimes.com/tag/treasury.html">treasury</a> transactions, revealing that Tether Treasury had recently minted an additional $1 billion. The tweet emphasized a noteworthy development, cautioning followers that this particular entity had accumulated a staggering 1.13 billion USDT from the Tether Treasury within the preceding 32 days.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Tether’s marketcap reaches new milestone of $90b 
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 <p>These transactions continue to be flagged by web <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> tools due to the previous controversies the world’s largest stablecoin&nbsp;encountered, drawing <a rel="dofollow" title="scrutiny" href="https://thebittimes.com/tag/scrutiny.html">scrutiny</a> from critics who raise concerns about its transparency and financial stability. </p> 
 <p>Some developments, such as a legal settlement with the New York Attorney General (NYAG), have heightened suspicions, revealing instances where Tether was not fully backed at certain points in time.</p> 
 <p>Further intensifying the <a rel="dofollow" title="scrutiny" href="https://thebittimes.com/tag/scrutiny.html">scrutiny</a>, a Wall Street Journal investigation has shed light on allegations that Tether’s partners utilized counterfeit documentation to secure access to bank accounts, adding to the project’s challenges.</p> 
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Tether responds to WSJ allegations of mismanagement of funds 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/tether-treasury-s-60m-transfer-to-whale-sparks-scrutiny-tbt73122.html">https://thebittimes.com/tether-treasury-s-60m-transfer-to-whale-sparks-scrutiny-tbt73122.html</a></p>

Tether treasury’s $60m transfer to whale sparks scrutiny

TheBitTimes

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