Tether, the world’s largest issuer of the stablecoin USDT, moved 951 bitcoin worth $70.5 million into a wallet linked to its financial services, according to the chain. data from blockchain analytics companies including Arkham Intelligence. The transfer came from Bitfinex’s hot wallet and went to an address listed as a Bitcoin reserve account tied to the company.
The transaction is in line with the profit sharing plan established in 2023 where Tether distributes 15% of the profits earned. to Bitcoin buys every quarter. This method converts the money paid from the stablecoin to the growing Bitcoin that is on the company’s website.
On-chain filings show that Tether’s Bitcoin Holdings has grown into one of the largest holdings in the industry. The company’s alleged storage addresses hold approximately 97,141 BTC and put Tether among the largest Bitcoin holders among private institutions. The savings include transfers collected over several purchases from 2022.
Those purchases have become a constant source of demand for Bitcoin availability. Each distribution removes coins from the exchange and puts them in jail for a long time. This system combines the growth of the acquisition with the investment of the business that interacts stablecoin The size of the application is the amount of Bitcoin.
This strategy also involves the concept of a stablecoin reserve. Tether says that most of the support for USDT consists of US Treasury securities and Bitcoin represents a small portion of the total reserves. The addition of Bitcoin brings price transparency to savings products and savings linked to the dollar.
Tether.wallet has been revealed
Yesterday, Tether he announced the launch of tether.wallet, a self-sustaining digital wallet designed to bring its global wealth directly to users, marking the transition from a back-end provider to a consumer-facing platform.
The wallet supports major assets including USDT, Bitcoin, and tokenized gold (XAU₮), focusing on what the company describes as important stores for users, especially in emerging markets.
Designed to simplify the use of crypto, tether.wallet introduces human-readable addresses and allows transactions to be paid in real-time transactions, eliminating the need for separate gas tokens. The software is self-maintaining, with private keys stored locally on users’ devices.
CEO Paolo Ardoino framed the initiative as a major step towards financial inclusion, targeting billions unserved by traditional banking systems. The product is built on the existing Tether network, which the company says reaches more than 570 million users worldwide.
The wallet is powered by Tether’s open-source Wallet Development Kit and supports multiple blockchains including Ethereum, Polygon, and Bitcoin. The move reflects Tether’s broader strategy to expand directly to end-users and enable future automated and AI-powered payments.
