Tether is suspected of using 15% of its quarterly profits to purchase 951 BTC and withdrawing them to its proprietary reserve wallet.

CoinFeed reported on April 15th that, according to Ember, Tether, the issuer of USDT, transferred 951 BTC (approximately $70.47 million) from Bitfinex to its Bitcoin reserve address. This address has been purchasing BTC at 15% of the company's profits since 2023, typically withdrawing funds from Bitfinex and storing them centrally a few days after the end of each quarter. Currently, this address holds 97,141 BTC (approximately $7.2 billion), making it the fifth largest BTC wallet globally. Based on the price at the time of withdrawal, the average purchase price was approximately $51,312, resulting in a paper profit of approximately $2.175 billion.