Tether’s BTC holdings questioned in CryptoQuant’s whale analysis
Tether’s Bitcoin (BTC) holdings have come under scrutiny from CryptoQuant. It deciphers whale behavior while emphasizing the need for meticulous Analysis . In a recent Twitter post, the on-chain data provider addressed the growing skepticism around Tether’s BTC holdings. 1-3/ Can we verify @Tether_to being the 11th largest #Bitcoin holder with the on-chain data? 4-6/ What is the blind spot of on-chain data when monitoring #Whales' behavior? Let's BUST this week's FUDs with our on-chain data. Thread — CryptoQuant.com (@cryptoquant_com) August 10, 2023 In its quarterly report, Tether disclosed its possession of around $1.67 billion in Bitcoin. This revelation ranks Tether as the 11th largest holder of the asset. However, CryptoQuant’s analysis reveals discrepancies that deviate from Tether’s official report. Moreover, Tether’s Bitcoin accumulation journey further underscores the intricacies of on-chain data interpretation. The company...