Binance and Tether Treasury Complete a $999.6 Million Round Trip

Binance and Tether Treasury moved $499.8 million in Tether (USDT) in each direction Oct. 21, as exchange outflows to unknown wallets exceeded inflows across a three-hour stretch of large transfers.

At 10:07 a.m. ET (14:07 UTC), 500 million USDT worth $499.8 million moved from Binance to Tether Treasury. At 10:57 a.m. ET (14:57 UTC), the same amount and value moved back to Binance.

Earlier, at 9:04 a.m. ET (13:04 UTC), 145 million USDT valued at $144.9 million moved from Bitfinex to Tether Treasury. A transfer of 145 million USDT worth $144.8 million moved back to Bitfinex at the same time.

The Bitcoin (BTC) transfers included 1,127 BTC worth $94.1 million moving from Coinbase to an unknown new wallet at 8:17 a.m. ET (12:17 UTC), and 1,002 BTC valued at $83.9 million moving to an unknown new wallet at 9:22 a.m. ET (13:22 UTC). In the other direction, 929 BTC worth $77.8 million moved from an unknown wallet to Coinbase at 9:34 a.m. ET (13:34 UTC), while 813 BTC valued at $67.9 million moved to Coinbase at 9:03 a.m. ET (13:03 UTC).

Across the three-hour period ending at 11:05 a.m. ET (15:05 UTC), exchange outflows to unknown wallets totaled $178 million, compared with $145.7 million moving from unknown wallets to exchanges. The routes alone do not show whether the assets were later sold or held.

A comparable Binance-Tether Treasury round trip involving 500 million USDT was also part of a wider transfer window on Oct. 9.