215.5 Million USDT Transfer Leads $888.5 Million in Crypto Moves

Three Bitfinex transfers to Tether Treasury accounted for $576.6 million of five large crypto transfers totaling $888.5 million in the three hours ending at 4:01 p.m. ET Monday, Nov. 9.

At 3:57 p.m. ET, Bitfinex sent 215.5 million Tether USDt (USDT), valued at $215.4 million, and 200 million USDT worth $199.9 million to Tether Treasury. It sent another 161.4 million USDT, worth $161.3 million, at 3:58 p.m. ET.

Earlier, at 2:09 p.m. ET, an unknown wallet sent 161.4 million USDT valued at $161.3 million to Bitfinex. At 2:26 p.m. ET, 2,018 Bitcoin (BTC) worth $150.7 million moved between two unknown wallets.

The transfer from the unknown wallet to Bitfinex was the only exchange inflow from an unknown wallet in the five moves. None moved from an exchange to an unknown wallet. Exchange deposits are often monitored as possible selling activity, but transfer direction alone does not establish a recipient’s intent.