Lookonchain, a web3 data analytics tool that tracks whale activity, shared a post on
This brings a total of 1.76 billion USDT received from the Tether Treasury to the exchange since October 20th.
As part of the post, Lookonchain puts these numbers into perspective, highlighting that an average price of $40,000 is enough to earn a total of 44,000 Bitcoin (BTC).
On November 22, Lookonchain reported significant Tether Treasury transactions, revealing that Tether Treasury had recently minted an additional $1 billion. The tweet highlighted a notable development, alerting followers to the fact that this particular company had amassed a whopping 1.13 billion USDT in Tether’s treasury over the past 32 days.
Such transactions continue to be flagged by web analytics tools in the wake of previous controversies faced by the world’s largest stablecoin, drawing scrutiny from critics who raise concerns about transparency and financial stability.
Some developments, such as the legal settlement with the New York Attorney General (NYAG), have heightened suspicions and revealed instances where Tether was not fully supported at any given point in time.
Furthering the investigation, a Wall Street Journal investigation uncovered allegations that Tether’s partners used forged documents to gain access to bank accounts, adding to the project’s difficulties.