Crypto firm Cumberland deployed $1b Tether in 8 days
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 13 2024
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Source: Coinmarketcap
Cumberland's Market Activity: Cumberland has transferred over $1 billion in Tether (USDT) to centralized exchanges following a market dip on August 5, indicating a potential asset accumulation strategy as cryptocurrency prices have since rebounded.
Tether's Minting and Fees: Tether has minted an additional $1 billion in USDT tokens this year, bringing its total to over $32 billion, while incurring minimal costs of just 53 cents for the recent issuance on Ethereum.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
