Report: Alameda and Cumberland Acquired Nearly 55% of USDT’s Total Supply

According to recent research published by the independent cryptocurrency outlet Protos, two companies have been responsible for buying two-thirds of Tether’s USDT total supply since its inception.
The organizations, Alameda Research and Cumberland Global, had so far been the recipients of at least $60.3 billion USDT out of the $108.5 billion of Tether’s outbound transfers between 2014 and October 31, 2021, the report said.
A majority of the volume, representing $49.2 billion worth of USDT (60% of Tether’s total supply), was acquired in 2020 alone, indicating the period when interests in cryptocurrencies surged tremendously.
However, the companies’ closest competitors in terms of receiving USDT from Tether’s treasuries, such as Binance, Bitfinex, Nexo Finance, among others, also received a few hundred million USDT during the time.
The market makers amass profit by supplying the dollar-backed stablecoins to centralized exchanges, such as Binance, Huobi, FTX, Poloniex, etc., pro

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