According to on-chain analyst Yu Jin's monitoring, on the last day of the third quarter, USDT issuer Tether withdrew 8,888.8 BTC ($1 billion) from Bitfinex to their BTC reserve address.

◎This may be the BTC they purchased in the second and third quarters (April-September): Tether announced in May 2023 that it would regularly use 15% of the company's profits to purchase Bitcoin for reserves. The last time it withdrew BTC was on the last day of the first quarter.

◎Currently, their BTC reserve address holds 86,335 BTC ($9.75 billion), making it the sixth largest BTC wallet.

◎ Based on the price when they withdrew from Bitfinex, the average purchase price of these BTC was approximately $48,542, which means that the current floating profit is as high as $5.5 billion.