PANews reported on December 30 that according to monitoring by on-chain analyst Yu Jin, 30 minutes ago, USDT issuer Tether withdrew 7,628.9 BTC (approximately US$705 million) from Bitfinex.

This should be the BTC purchased by Tether this quarter: Tether announced in May 2023 that it has decided to regularly use 15% of the company's profits to purchase Bitcoin to enhance its reserves.

Tether currently holds a total of 82,983 BTC (US$7.68 billion), making it the sixth largest BTC wallet address. Their combined BTC purchase cost is approximately US$36,222, and their current floating profit is as high as US$4.72 billion.