Cumberland has transferred over 600 million USDT received from Tether Treasury to CEX

Wu said that Spot On Chain monitoring showed that the wallet address 0x1db (possibly belonging to Cumberland) transferred $270 million USDT from Tether Treasury to multiple centralized exchanges in the past 24 hours, coinciding with the market rebound. It is reported that after the market fell on August 5, the wallet received $660 million USDT from Tether Treasury and subsequently injected a total of $607.3 million USDT into multiple exchanges, including $333 million injected into Coinbase, $118.5 million into Kraken, $72.4 million into Binance, $51.5 million into OKX, and $32 million into Bullish. This series of operations suggests that institutional investors may still be actively buying.