{"id":9074,"date":"2024-01-02T08:10:08","date_gmt":"2024-01-02T08:10:08","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=9074"},"modified":"2024-01-02T08:10:08","modified_gmt":"2024-01-02T08:10:08","slug":"tether-withdrew-large-bitcoins-from-bitfinex-exchange","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/tether-withdrew-large-bitcoins-from-bitfinex-exchange\/","title":{"rendered":"Tether Withdrew Large Bitcoins from Bitfinex Exchange!"},"content":{"rendered":"<p>Today, the prominent stablecoin issuer Tether (USDT) made a significant transfer of Bitcoin (BTC) from the Bitfinex exchange to its own account. In a striking move, Tether (USDT) withdrew a total of 8888.88 Bitcoin (BTC) from the Bitfinex exchange.<\/p>\n<h2>Tether Transferred 8888.88 Bitcoins to Its Wallet!<\/h2>\n<p>This significant withdrawal, approximately worth $379 million, has placed the stablecoin company among the top ten addresses holding Bitcoin. Currently, Tether holds an impressive reserve of 66,465.2 BTC with a market value of $2.82 billion.<\/p>\n<p>The stablecoin company made a noteworthy move by withdrawing 8888.88 BTC from the Bitfinex exchange.<\/p>\n<p>This move emphasizes how the company is integrated into the Bitcoin ecosystem as a major player, going beyond its role as a stablecoin issuer.<\/p>\n<blockquote><p>This section may draw your attention:\u00a0<em><strong><a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-etf-short-term-might-be-disappointing\/\">Bitcoin ETF Short Term &#8216;Might Be Disappointing&#8217;<\/a><\/strong><\/em><\/p><\/blockquote>\n<p>Being among the top ten addresses holding BTC represents a significant financial achievement for Tether. According to reports, the cost price of Bitcoin assets is $25,176 per BTC.<\/p>\n<p>This situation indicates that the company has made a substantial profit of $1.148 billion, representing an impressive 68% profit margin.<\/p>\n<p>Known for issuing stablecoins pegged to fiat currencies like the US Dollar, the company is increasingly playing a more influential role in the cryptocurrency market. Particularly, the substantial withdrawal of Bitcoin signifies an important development, showcasing Tether&#8217;s strategic approach to diversifying its asset portfolio and managing digital assets.<\/p>\n<div>\n<hr \/>\n<div>\n<div>\n<p data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><em>Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a> and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"blog-share text-center\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Today, the prominent stablecoin issuer Tether (USDT) made a significant transfer of Bitcoin (BTC) from the Bitfinex exchange to its own account. In a striking move, Tether (USDT) withdrew a total of 8888.88 Bitcoin (BTC) from the Bitfinex exchange. Tether Transferred 8888.88 Bitcoins to Its Wallet! This significant withdrawal, approximately worth $379 million, has placed<\/p>\n","protected":false},"author":13,"featured_media":9075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[118,3337,3335,3336],"class_list":["post-9074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-tether","tag-tether-transferred-8888-88-bitcoins","tag-tether-withdrew-large-bitcoins-from-bitfinex-exchange","tag-withdrew-large-bitcoins"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tether Withdrew Large Bitcoins from Bitfinex Exchange! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Today, leading stablecoin issuer Tether (USDT) made a significant Bitcoin (BTC) transfer. 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