Tether Sends Another 200 BTC to Binance, Total Deposits Reach $174.7M Since May

In Brief:

Tether transferred 200 BTC ($20.88M) to Binance 8 hours ago.

Since May 9, the wallet has deposited 1,650 BTC ($174.7M) following BTC’s rebound above $100K.

According to on-chain data from Lookonchain, Tether’s Lending Collateral Custody wallet deposited 200 BTC—valued at approximately $20.88 million—into Binance eight hours ago. The transfer adds to a series of significant deposits made over the past month.

Since Bitcoin climbed back above the $100,000 mark on May 9, the same wallet has sent a total of 1,650 BTC to Binance, amounting to roughly $174.7 million. The consistent transfers suggest potential liquidity movements or collateral adjustments tied to Tether's lending operations.

These deposits are being closely tracked by analysts, who often interpret large exchange inflows from institutional wallets as possible signs of positioning for market activity, hedging, or redemptions.

Tether has not issued a public statement regarding the nature of these transfers.

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