Eight Crypto Transfers Total $1.11 Billion in Three-Hour Window

Eight transfers involving Tether USDt (USDT) and Bitcoin (BTC) totaled $1.11 billion in the three hours ending at 10:01 a.m. ET Wednesday, Nov. 4. The largest was a $250.4 million transfer from Bitfinex to Tether Treasury. Transfers from exchanges to unknown wallets totaled $295.8 million, while $186.5 million moved from an unknown wallet to Bitfinex.

The largest transfer, 250,700,000 USDT, moved from Bitfinex to Tether Treasury at 8:31 a.m. ET. Two other transfers from Bitfinex to the treasury were valued at $149.8 million and $115.9 million. At 7:44 a.m. ET, an unknown wallet sent 186,600,000 USDT, worth $186.5 million, to Bitfinex.

Bitcoin transfers included 2,012 BTC worth $157.7 million and 1,095 BTC worth $85.9 million sent from OKX to unknown wallets at 8:30 a.m. ET. Coinbase Institutional sent 666 BTC worth $52.2 million to an unknown wallet at 7:12 a.m. ET. Another 1,457 BTC, valued at $114.2 million, moved between unknown wallets at 9:15 a.m. ET.

The three exchange-to-unknown-wallet transfers were the two from OKX and the one from Coinbase Institutional. An earlier three-hour window of crypto transfers totaled $1.94 billion.