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<a href="https://bitcoinworld.co.in/tether-treasury-transfers-60m-in-usdt-to-a-mysterious-institution/" title="Tether Treasury Transfers $60M In USDT To A Mysterious Institution" rel="noopener noreferrer nofollow"></a>
According to a post shared on <a href="https://twitter.com/lookonchain/status/1733158328761790839" rel="noopener noreferrer nofollow">X</a> (formerly Twitter) by Lookonchain, a web3 data analysis tool that tracks whale activity, one mysterious fund or institution had secured $60 million in USDT from the Tether Treasury.
This move brings the total to $1.76 billion USDT received from Tether Treasury and subsequently funneled into exchanges since Oct. 20.
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 $40,000.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The mysterious fund/institution received 60M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDT</a> from <a href="https://twitter.com/hashtag/TetherTreasury?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#TetherTreasury</a> again 2 hours ago.
 This fund/institution has received a total of 1.76B <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDT</a> from <a href="https://twitter.com/hashtag/TetherTreasury?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#TetherTreasury</a> and transferred to exchanges since Oct 20.
 The 1.76B <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDT</a> can buy 44K <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> at an average price of $40,000. <a href="https://t.co/POIWCHo3Gg" rel="noopener noreferrer nofollow">pic.twitter.com/POIWCHo3Gg</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1733158328761790839?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 8, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
On Nov. 22, Lookonchain also reported significant Tether treasury transactions, revealing that Tether Treasury had recently minted an additional $1 billion.&nbsp;
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.
These transactions continue to be flagged by web analysis tools due to the previous controversies the world’s largest stablecoin encountered, drawing scrutiny from critics who raise concerns about its transparency and financial stability.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/el-salvador-partners-with-tether-to-launch-a-freedom-visa-program/" aria-label="“El Salvador Will Give You a ‘Freedom Visa’ If You Have $1M in Bitcoin or Tether” (Edit)" rel="noopener noreferrer nofollow">El Salvador Will Give You a ‘Freedom Visa’ If You Have $1M in Bitcoin or Tether</a>
Some <a href="https://www.cnbc.com/2021/02/23/tether-bitfinex-reach-settlement-with-new-york-attorney-general.html" rel="noopener noreferrer nofollow">developments</a>, 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.
Further intensifying the scrutiny, 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.
The post <a href="https://bitcoinworld.co.in/tether-treasury-transfers-60m-in-usdt-to-a-mysterious-institution/" rel="noopener noreferrer nofollow">Tether Treasury Transfers $60M In USDT To A Mysterious Institution</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Tether Treasury Transfers $60M In USDT To A Mysterious Institution

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