According to Arkham, the wallet labelled “Tether: Bitcoin Reserves” received 8,889 Bitcoin in one transfer from Bitfinex.
The move added about $1 billion to its Tether holdings, pushing the company’s Bitcoin Stash to about $9.8 billion based on market prices. This was one of the biggest single top-ups in BTC balance this year.
Quarter-end purchase patterns
Based on the report, the timing of purchases was not random. Blockchain records show that Tether added similar quarter-ends in September 2024, December 2024 and March 2025.
Analysts say this pattern refers to intentional efforts to strengthen reserves prior to public proof. Tether’s second quarter proof listed nearly $9 billion in Bitcoin.
The following official report is expected in late October and shows whether recent purchases have been reflected on paper.
One-time movement and wider movement
The transfer from Bitfinex highlights the close relationship between Exchange and the company behind USDT. Such activities have attracted attention because of their size and sauce.
In June, Tether also routed approximately $1.4 billion worth of BTC, run by CEO Jack Mullers, to Twenty One Capital. The trade Fed said Tether may redistribut some reserves, including gold, to other assets, but CEO Paolo Aldoino pushed back those claims and said Bitcoin is at the heart of the company’s plan.
US Push and New Stablecoin
Tethers are also expanding in the US. The company has established a domestic branch led by Bo Hines. BoHines previously advised the White House on Crypto Policy.
According to the report, Tether said it plans a federally compliant Stablecoin called the USAT as part of its efforts. The move suggests that the company wants a greater foothold within the US regulatory framework, while still maintaining global operations.
USDT’s growth and market role
Crypto Trackers shows that USDT’s distribution supply supply was around $175 billion, an increase of 10% in the last quarter. Its growth highlights the role of Stablecoin as a go-to dollar proxy for traders and Defi users. With more USDT in circulation, exchanges and liquidity pools rely heavily on it during sharp market movements.
Reserves and Market Signals
The bigger Bitcoin Holdings and the push to the US raises fresh questions. While proof is aimed at building confidence, critics still want more clear transparency on how reserves are managed.
The market will watch the report carefully from late October. If tether filing matches on-chain activity, it can calm some concerns. Otherwise, scrutiny could grow.
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