{"id":52796,"date":"2021-11-12T16:47:38","date_gmt":"2021-11-12T14:47:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=52796"},"modified":"2025-09-03T11:56:59","modified_gmt":"2025-09-03T08:56:59","slug":"report-55-of-usdt-issued-in-the-interests-of-alameda-research-and-cumberland","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/report-55-of-usdt-issued-in-the-interests-of-alameda-research-and-cumberland\/","title":{"rendered":"Report: 55% of USDT issued in the interests of Alameda Research and Cumberland"},"content":{"rendered":"

An equivalent of $60.3 billion, or almost 55% of Tether’s (USDT) market value, was issued by its issuer between 2014 and October 2021 at the request of market makers Cumberland Global and the Sam Bankman-Fried-connected Alameda Research. Such calculations \u043f\u0440\u0438\u0432\u0435\u043b\u0438<\/a> analysts from Protos.<\/p>\n

The latter acquired tokens worth $36.7 billion, or 37% of USDT in circulation, with 86% of that amount \u2014 in the last 12 months. Cumberland Global, a subsidiary of one of the world’s largest traders DRW Holdings, converted $23.7 billion into Tether.<\/p>\n

\n
\\\"Report:
Data: Protos.<\/figcaption><\/figure>\n<\/div>\n

Among other major participants in USDT distribution were market makers linked to Binance, as well as to Bitfinex: iFinex, Nexo, Heka, Jump Crypto, DelChain, Blockchain Access, Three Arrows.<\/p>\n

\n
\\\"Report:
Data: Protos.<\/figcaption><\/figure>\n<\/div>\n

According to Protos, 87% of Alameda’s tokens were sent to the sister cryptocurrency derivatives exchange FTX. In total, nearly $4 billion went to Binance, Huobi, OKEx, with the remaining $705 million sent to addresses not linked to trading platforms.<\/p>\n

Over the past year, Tether Limited, on behalf of Cumberland Global, issued tokens worth $17.6 billion (74% of the total for the period). 80% of all USDT the firm transferred to Binance, with the rest to other Bitcoin exchanges.<\/p>\n

In October, CFTC<\/span> fined<\/a> Tether $41 million for “false or misleading statements” about full backing of the USDT stablecoin.<\/p>\n

Subsequently, research firm Hindenburg Research offered a reward<\/a> of $1 million for disclosure of previously unknown information about Tether’s reserves.<\/p>\n

Subscribe to ForkLog’s channel on YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

An equivalent of $60.3 billion, or almost 55% of Tether’s (USDT) market value, was issued by its issuer between 2014 and October 2021 at the request of market makers Cumberland Global and the Sam Bankman-Fried-connected Alameda Research. Such calculations were reported by Protos analysts.<\/p>\n","protected":false},"author":1,"featured_media":52797,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1435,1786,807,1245],"class_list":["post-52796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alameda-research","tag-cumberland","tag-stablecoins","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/52796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=52796"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/52796\/revisions"}],"predecessor-version":[{"id":52798,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/52796\/revisions\/52798"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/52797"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=52796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=52796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=52796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}