Wallet 0x1db (likely Cumberland DWR) resumed transferring 67M USDT from the Tether's Treasury to Binance, Coinbase, OKX, and Kraken in the past 5 hours, including:

• 28.6M USDT to Binance;
• 20M USDT to Coinbase;
• 10M USDT to OKX;
• 8.4M USDT to Kraken.

• address: 0x1dbbbc3fdb2c4fabd28fd9b84ed99ceb84bfbec5

Notably, the Tether Treasury minted 1B USDT five days ago, on September 16, just ahead of the highly anticipated interest rate cut by the Fed on September 17 and 18, possibly in preparation to provide market liquidity. It appears that the Tether Treasury is now beginning to inject liquidity into the market.

Previously, on August 13 and 20, 2024, the Tether Treasury minted a total of 3B USDT on both Tron and Ethereum. Around this time, an equivalent amount of USDT was injected into various exchanges, and the price of BTC recovered from around $54K to as high as $64K during that period.

Fig 1. Wallet 0x1db (likely Cumberland DWR) resumed transferring 67M USDT from the Tether's Treasury to exchanges in the past 5 hours.

Fig 2. The Tether's USDT minting against the BTC price in the past year.