Tether Transfers 4 BTC Worth $250K to Binance for Testing, Q2 Bitcoin Purchases Show Signs of Slowdown

BTC0.11%

According to Foresight News, Tether's reserve address transferred 4 BTC worth approximately $250,000 to Binance for testing approximately 5 hours ago, according to on-chain analyst Yan Chen. The address is used to allocate 15% of quarterly profits into Bitcoin.

Notably, Tether historically moves newly purchased Bitcoin to its reserve address on the final day of each quarter. However, with Q2 ending over two weeks ago, no new Bitcoin deposits have been observed at the address, suggesting the quarterly Bitcoin accumulation may have slowed or paused.

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