Tether has transferred 37,229 Bitcoin, valued at nearly $4 billion, to Jack Mallers’ newly launched firm, Twenty One Capital. This move raises questions about the real demand for cryptocurrency.
Large Transfer from Tether to Twenty One Capital
Tether made a significant transfer of Bitcoin to Mallers’ new company just a day after its launch. At the time of the transfer, there was no noticeable investor interest.
Skepticism Surrounds Bitcoin Demand
Critics argue that this transfer may be an attempt to create an illusion of demand for Bitcoin, raising concerns that Tether might be artificially supporting prices to avoid declines.
Comparisons to Past Crypto Scandals
Moreover, Twenty One Capital is launching a lending platform that echoes past experiences with companies like Celsius and Bitconnect, which attracted users with high-yield promises but crashed in controversy.
Such developments serve as a warning for cautious investment in cryptocurrencies, especially when there is a lack of transparency and real demand.
