Cumberland Deposits 14.2 Million USDT to Centralized Exchanges

IconCryptoNewsTerminal Staff20 Sep, 2024

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Cumberland Deposits 14.2 Million USDT to Centralized Exchanges

Cumberland, a high-volume cryptocurrency trading firm, has allegedly moved 97 million USDT from the Tether Treasury to centralized exchanges, according to data from Arkham Intelligence. The data revealed that Cumberland transferred 10 million USDT to OKX and 4.2 million USDT to Kraken within the past 5 minutes. The purpose of these transactions remains unclear.