A post by @whale_alert on X.

Tether Treasury moved 120 million USDT, valued at roughly $119.9 million, to the Bitfinex exchange in a single transfer flagged by Whale Alert. The transaction shifts a nine-figure sum of the largest stablecoin from its issuer's treasury directly onto a trading venue. Such treasury-to-exchange flows are typically read as a signal of forthcoming liquidity, whether to meet client withdrawals, settle trades, or fund new positioning. Bitfinex is closely tied to Tether through shared ownership, so the transfer may also reflect routine internal rebalancing rather than fresh demand. Traders will watch whether the USDT lands in exchange reserves and shows up in spot or derivatives volumes, and whether further treasury mints or transfers follow.