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These are the six companies that bought almost $100 Billion USDT from Tether

After several months of research, a report from Protos managed to identify exactly who acquired 70% of all USDT ever issued. The report looked at every single USDT ever sent to and from Tether across eight blockchains and layers it currently exists on, finding that the company distributed $108.5 billion in USDT since 2014.
The majority of the funds were sent directly to market makers and liquidity providers—a staggering $96.98 billion went to just six companies.
Alameda Research is Tether’s biggest buyer
Analyzing USDT flowing out of Tether Treasuries and linked blockchain addresses to specific entities, Protos divided the distribution into three categories—market makers, funds and companies, and individuals. For research purposes, market makers were defined as entities that received multiple transactions from Tether Treasuries of over $100 million USDT.
Tether supplied these market makers with 89.2%, or just over $97 billion, of all the USDT it sent. Trading funds compa

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