125,520,899 USDT Worth $125,520,899 USD Transferred to Unknown Wallet

• The transaction happened on Mon, Apr 25, 2022, at 19:20:24 UTC.
• Stablecoin USDT is issued by Hong Kong-based Tether.

In a speech at the Paris Blockchain Week Summit, Tether’s Chief Technical Officer Paolo Ardoino told CryptoSlate that the company is ready for anything the economic environment throws.

As per reports from an exclusive conversation with Tether’s chief financial officer, Ardoino discussed how the company has lowered its commercial paper debt with the U.S. Treasury and reviewed the viability of its portfolio weekly. In addition, the Tether team undertakes simulations to see whether it can respect redemptions even in a worldwide economic catastrophe akin to the one in 2008. When it comes to reclaiming a Tether token for cash, Ardoino claims that the company’s stablecoin team is the “best.”

Stablecoin (stable value cryptocurrency) USDT is issued by Hong Kong-based Tether and matches the price of the U.S. dollar. Maintaining a reserve of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bonds equal to the total USDTs in circulation ensures the peg to the dollar.

Whale Alert

Whale Alert uses one standard format to store transactions from various blockchains. With artificial intelligence (A.I.), these databases are regularly updated with thousands of known individual addresses, exchanges, and addresses.

An unknown whale from an anonymous wallet has transferred 125,520,899 USDT from Binance to an unknown wallet. Whale Alert, a blockchain analytics and monitoring company highlighted that the transaction was worth $125,520,899 USD.

Crypto whales are back in action, transferring USDT worth hundreds of millions of dollars overnight. A monitoring and analysis program called Whale Alert discovered the enormous crypto transfer networks. According to Whale Alert data, the transaction happened on Mon, Apr 25, 2022, at 19:20:24 UTC.