According to EmberCN, Tether, the issuer of USDT, has withdrawn 7,628.9 BTC, valued at $705 million, from Bitfinex. This transaction is part of Tether's strategy announced in May 2023 to allocate 15% of its profits for Bitcoin purchases to strengthen its reserves. As of now, Tether holds a total of 82,983 BTC, worth approximately $7.68 billion, making it the 6th largest Bitcoin wallet address. The overall acquisition cost for Tether's BTC is about $36,222 per Bitcoin, and they currently have an unrealized gain of $4.72 billion.