Unidentified Wallet Sends Nearly $101 Million in USDT to Bitfinex

An unidentified wallet transferred 100,980,000 Tether (USDT) to Bitfinex on Oct. 20, moving nearly $101 million in tokens to the crypto exchange in an Ethereum transaction.

The transfer was valued at $100,934,306. That is $45,694 below the token count valued at $1 apiece. The transaction reference identified Ethereum as the network, an unknown wallet as the sender and Bitfinex as the destination.

The movement establishes that a large amount of USDT went to an exchange-linked address. It does not establish whether the wallet holder sold the tokens, exchanged them for another asset or kept them at the exchange. Nor does the transfer identify who controlled the sending wallet. Those details cannot be determined from the movement of tokens alone.

A transfer into a trading venue and a completed trade are separate events. The transaction records the movement of USDT to Bitfinex; it does not document a subsequent market order.