According to EmberCN, Tether, the issuer of USDT, has withdrawn 7628.9 BTC (worth $705 million) from Bitfinex. This transaction is part of Tether's ongoing strategy to purchase Bitcoin using 15% of its profits, a policy announced in May 2023. Currently, Tether holds a total of 82,983 BTC valued at $7.68 billion, making it the sixth-largest Bitcoin wallet. The average cost of their Bitcoin holdings is approximately $36,222, and they are currently enjoying an unrealized gain of $4.72 billion.