A post by @whale_alert on X.

Tether moved 200 million USDT, worth roughly $199.8 million, from its treasury to the Bitfinex exchange in a single Ethereum transaction. The transfer was flagged by on-chain tracker Whale Alert, which published the transaction hash linking the mint to the exchange deposit. The stablecoin issuer routinely shifts large USDT batches to affiliated trading venues, and the size of this move puts it among the larger single transfers tracked in recent weeks. Traders watch such treasury-to-exchange flows as a signal of potential fresh buying power, though the funds can also sit idle or be routed onward. What to watch next is whether the USDT lands in Bitfinex order books and lifts spot volumes, or is quickly withdrawn to other venues.