$120 Million USDT Moves from Bitfinex to Tether Treasury

$120 million worth of Tether (USDT) has moved from Bitfinex to the Tether Treasury. This transfer, amounting to approximately $120 million (about 176.1 billion KRW), was captured by on-chain alerts on the 4th. The transaction hash and the chains used were not disclosed. According to publicly available Whale Alert transaction records, a similar amount was transferred from Bitfinex to the Tether Treasury on January 6, but it has not been confirmed whether this alert refers to the same transaction. The movement to the Tether Treasury could be related to redemptions or inventory management. Tether explains in its official FAQ that tokens held by the Treasury may not be included in the circulating supply and market capitalization, and redeemed tokens can be kept in the Treasury or reserved for future issuance. The direction and quantity of the movement alone cannot definitively indicate burning, new issuance, or changes in exchange liquidity. Bitfinex has stated that verified users can deposit, withdraw, and trade Tether, with supported networks including Tron (TRX), Ethereum (ETH), Solana (SOL), Avalanche, Ton, and Aptos. Previously, a transaction involving the movement of 10.24 million USDT from Bitfinex to the Tether Treasury was also reported. This transaction occurred on the Ethereum network, but the purpose of the movement and its market impact were difficult to assess based on the available information. This recent movement also requires transaction hashes and explanations from Tether or Bitfinex.

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