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

PANews reported on August 9th that Spot On Chain monitoring shows that the wallet address 0x1db (possibly belonging to Cumberland) has transferred $270 million USDT from Tether Treasury to several centralized exchanges in the past 24 hours, coinciding with a market rebound. It is reported that after the market fell on August 5th, this wallet received $660 million USDT from Tether Treasury and subsequently injected a total of $607.3 million USDT into multiple exchanges, including $333 million to Coinbase, $118.5 million to Kraken, $72.4 million to Binance, $51.5 million to OKX and $32 million to Bullish. This series of operations suggests institutional investors may still be actively buying in.