Cumberland Receives $20 Million USDT from Tether, Deposits into Exchanges
CryptoNewsTerminal Staff16 May, 2024
Cumberland Receives $20 Million USDT from Tether, Deposits into Exchanges
Cumberland's Estimated Address Receives 20 Million USDT from Tether, Deposits into Exchanges According to on-chain data analysis by Lookonchain, a Cumberland-linked address broke a 12-day silence by receiving 20 million USDT from Tether's Treasury an hour prior. This transfer was followed by deposits to exchanges such as Binance and OKX. Lookonchain further highlighted Cumberland's significant role in the recent market rally, stating that the firm has received approximately 5.53 billion USDT from Tether Treasury since October 20, 2023, which was subsequently deposited into exchanges. These actions suggest Cumberland's potential impact on market dynamics.
