TechFlow news, April 1 — According to on-chain analyst Ember (@EmberCN), Tether, the issuer of USDT, withdrew 8,888 bitcoins (approximately $735 million) from Bitfinex via its reserve address at the end of the first quarter.
Data shows that Tether currently holds a total of 92,647 bitcoins (approximately $7.64 billion), ranking as the sixth-largest Bitcoin holder on the network. Since May 2023, the company has allocated 15% of its profits toward purchasing Bitcoin to strengthen its reserves, with a weighted average acquisition cost of approximately $41,147 per Bitcoin.
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