Cumberland Deposits $75 Million in USDT to Exchanges
CryptoNewsTerminal Staff12 Aug, 2024
Cumberland Deposits $75 Million in USDT to Exchanges
On-chain data analytics provider Lookonchain reported that "about an hour ago, Cumberland received another 75 million USDT from the Tether treasury and deposited the funds into multiple exchanges." This brings Cumberland's total deposits from Tether this month to over $400 million, all of which have been deposited into exchanges. It is speculated that these deposits may be related to the recent market volatility and the need for liquidity on exchanges.
