New transfer from a company that moved $5B to stock markets in the bull rally

Cumberland, the crypto trading company that published a report last year predicting a rise in cryptocurrencies and largely kept its predictions, withdrew $20 million from the Tether Treasury. The company, which has not made any withdrawals in the last 12 days, is known for moving more than $5 billion USDT to exchanges this bull season.

New transfer from a company that moved $5B to stock markets in the bull rally

A remarkable transfer came from Cumberland, a trading firm known for its transactions in cryptocurrencies. The company wallets, which have not made any transactions in the last 12 days, withdrew $20 million from the Tether Treasury and sent them to exchanges.

Cumberland appears to have sent $10 million to the OKX exchange and the same amount of USDT to Binance. Such companies often send USDT, the most widely used stablecoin for crypto purchases, to exchanges to make new purchases.

They moved $5 billion

As it is known, the cryptocurrency world has experienced noticeable increases, especially after November. Prices, which rose sharply until the day the SEC approved Bitcoin spot ETFs on January 10, retreated briefly after the approval, but then continued their rally.

During this period, Cumberland sent billions of dollars of USDT to exchanges and made new purchases. Since October 20, 2023, the firm has transferred a total of $5.5 billion USDT to exchanges.

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