Cumberland Address Receives $320 Million USDT from Exchanges in Two Days

IconCryptoNewsTerminal Staff15 Aug, 2024

cryptonews.jpg

Cumberland Address Receives $320 Million USDT from Exchanges in Two Days

Crypto market maker Cumberland's estimated address has received a significant amount of USDT in the past few days. According to Spot On Chain, the address received 320 million USDT from Tether's treasury over the past two days, which was then deposited into exchanges. Five days ago, the same address received 1.28 billion USDT on the Ethereum blockchain, of which 639 million USDT was sent to Coinbase, 288 million USDT to Kraken, and 180 million USDT to OKX. The address also made USDT deposits to exchanges 12 hours ago. The influx of USDT into Cumberland's address suggests that the company is preparing for a major trading operation or is facilitating large transactions for its clients. It is worth noting that Cumberland is a major player in the cryptocurrency market, and its activities can have a significant impact on market prices.

Related News