According to Odaily, Cumberland, a prominent player in the cryptocurrency market, has received 20 million USDT from Tether Treasury after a 12-day period of inactivity. The funds were deposited into an exchange an hour after receipt. This is not the first time Cumberland has received a substantial amount from Tether Treasury. Since October 20, 2023, Cumberland has received a total of 55.3 billion USDT from Tether Treasury, all of which has been deposited into exchanges.
The recent transaction marks a continuation of the relationship between Cumberland and Tether Treasury. The large sums of USDT received by Cumberland from Tether Treasury and subsequently deposited into exchanges indicate a significant level of activity and trust between the two entities. The details of the transactions, including the specific exchanges where the funds have been deposited, have not been disclosed.
This news comes amidst a period of increased activity in the cryptocurrency market, with many entities engaging in large-scale transactions. The receipt of 20 million USDT by Cumberland after a 12-day period of inactivity is a noteworthy event, indicating a possible resurgence of activity. The ongoing transactions between Cumberland and Tether Treasury are expected to continue, contributing to the dynamism of the cryptocurrency market.