Lookonchain, the on-chain activity monitoring platform, reported on X that a significant player withdrew an additional 96 million Tether (USDT) from the Tether Treasury. After the withdrawal, the funds were swiftly transferred to major exchanges such as OKX, Kraken, and Coinbase. The platform highlighted that this specific whale has received a substantial sum of 992 &hellip; 
<a href="https://www.cryptoknowmics.com/news/whale-moves-96-million-usdt-from-tether-treasury-to-exchanges-amid-ongoing-activity-dominance/" class="more-link">Continue reading &#8220;Whale Moves 96 Million USDT from Tether Treasury to Exchanges Amid Ongoing Activity, Dominance&#8221;</a>

Lookonchain, the on-chain activity monitoring platform, reported on X that a significant player withdrew an additional 96 million Tether (USDT) from the Tether Treasury. After the withdrawal, the funds were swiftly transferred to major exchanges such as OKX, Kraken, and Coinbase.The platform highlighted that this specific whale has received a substantial sum of 992 million USDT from the Tether Treasury since October 20, depositing the entirety onto various exchanges. Interestingly, this latest withdrawal occurred just four days after the whale's previous transaction.Whale's Tether Movements: Minimal Impact on USDT ValueLookonchain previously noted that the same whale received 49 million USDT from the Tether Treasury, subsequently sending it to Kraken and Coinbase. Another transaction involving the whale took place earlier, with the individual receiving 30 million USDT, coincidentally just hours before the Tether Treasury minted an additional 1 billion USDT.[embed]https://twitter.com/lookonchain/status/1726799593172771140[/embed]Despite these sizable withdrawals, Tether's value remained pegged to the Dollar, maintaining its $1 valuation at the time of reporting. Over the last 24 hours, USDT experienced a minimal 0.01% drop.Additionally, USDT continued to dominate the stablecoin market, boasting a combined market cap exceeding $88 billion, in stark contrast to USD Coin (USDC), which held a market cap of $24.51 billion.Traders and investors overwhelmingly chose USDT for their transactions, constituting 90.10% of the total trading volume in the market over the past day, with USDT's trading volume reaching $40.8 billion.

Whale Moves 96 Million USDT from Tether Treasury to Exchanges Amid Ongoing Activity, Dominance

The leading stablecoin issuer, Tether, has prohibited an address that thieved $25 million from Maximal Extractable Value (MEV) bots. MEV-help exploits large MEV exploits by sandwiching transactions in between The MEV-help hand-off to outsmart the MEV bots attempting to execute a sandwich exchange. Sandwiching happens when one request is put preceding the exchange and another &hellip; 
<a href="https://www.cryptoknowmics.com/news/validator-address-drained-mev-bots-for-25m-blacklisted-by-tether/" class="more-link">Continue reading &#8220;Validator Address Drained Mev Bots For $25m Blacklisted By Tether&#8221;</a>

The leading stablecoin issuer, Tether, has prohibited an address that thieved $25 million from Maximal Extractable Value (MEV) bots.<h2>MEV-help exploits large MEV exploits by sandwiching transactions in between</h2>The MEV-help hand-off to outsmart the MEV bots attempting to execute a sandwich exchange. Sandwiching happens when one request is put preceding the exchange and another following it. Essentially, the trader will simultaneously front-run and back-run, sandwiching the initial pending transaction in between.It was the largest MEV exploit to date when the rouge validator address swooped in to back-run the MEV's transaction, resulting in losses of nearly $25 million in various digital assets. The address has already been flagged by Etherscan as suspicious for its role in the exploit.The community criticised the censorship strategy behind the blacklisting of the rouge validator address. Arthur, a <a href="https://www.cryptoknowmics.com/news/kraken-crypto-exchange-introduces-mobile-trading-in-the-united-states/" target="_blank" rel="noopener">Kraken crypto exchange</a> engineer, called the blacklisting "bullshit." He said that MEV bots also take advantage of traders and that the sandwich trade they were trying to make was just as bad as taking their money.<h2>Tether's blacklisting of DeFi is 'bad precedent,' says Bitcoin sleuth</h2>[embed]https://twitter.com/ThogardPvP/status/1645598593758416897[/embed]<a href="https://twitter.com/zachxbt/status/1645494423399145500?s=20" target="_blank" rel="nofollow noopener">According</a> to ZachXBT, a different on-chain sleuth, Tether's blacklisting could be the result of a court order. Polygon co-founder Jaynti Kanani referred to Tether's actions as a "bad precedent," and Fastlane Labs co-founder Jordan Hagan referred to them as the "most concerning DeFi development." He went on to say that Tether's inability to block or unblock “large amounts based on activity in the consensus layer (Beacon Chain)” is the primary issue.<h2>MMEV bots profit by arbitrage </h2>By making use of information about upcoming transactions, MEV bots increase their profits. This is typically accomplished through the use of arbitrage, or taking advantage of price differences between exchanges. When an MEV bot learns that another person is going to buy a coin, it puts itself in a position to take advantage of the slight price increase that its bid will probably cause. Front-running the exchange, the bot skirts the line and purchases a little less. After that, the bot moves ahead of the trade and purchases the cryptocurrency at a lower price.

Tether

Whale Moves 96 Million USDT from Tether Treasury to Exchanges Amid Ongoing Activ ...

Validator Address Drained Mev Bots For $25m Blacklisted By Tether