Tether spent $1 billion to buy the dip on BTC? —— Fake News, or at least inaccurate This post with 300k views and 5k+ likes has been screenshotted and shared in various groups. Is it true? Let’s verify ✅ - Tether transferred $1 billion USDT to Bitfinex: Correct, the transaction happened 13 hours ago. - ❌ This is Tether’s first time using treasury funds to purchase assets: Incorrect. Since May 2023, they’ve been using 15% of their quarterly net profits to buy Bitcoin. Typically, BTC is transferred to on-chain addresses at the end of the quarter. - ❌ This is Tether buying the dip on BTC: Inaccurate. Transferring USDT to Bitfinex ≠ buying BTC. Over the past seven years, Tether has transferred USDT to Bitfinex 1,516 times. You can’t claim every transfer was for buying BTC. This is indeed the largest single USDT transfer from Tether to Bitfinex in history, but jumping to conclusions that Tether is “buying the dip” based on one transaction doesn’t hold up. We’ll need to see if BTC of equivalent value is transferred back to their address later. DYOR. Tether’s public address currently holds 87,556 BTC, valued at $7.47 billion. Portal https://intel.(arkm.com)/explorer/entity/tether