Institutions Move Millions Into Crypto Ahead Of Fed Rate Decision

• Trading institutions have moved millions into the crypto market over the past week.
• The transfers come ahead of the Federal interest rate announcement slated for later today.
• Tether has minted a whopping 5 billion USDT on Tron and Ethereum in the past seven days.

The highly anticipated U.S. Federal Reserve’s interest rate announcement, which is scheduled for later today, has prompted the transfer of millions of dollars. On-chain analytics firm Lookonchain recently highlighted the massive transfers in a lengthy Twitter thread earlier today.

According to data gathered by Lookonchain, Bastion Trading has received more than 230 million USDT from the Tether Treasury. These stablecoins have been transferred to Binance over the past seven days. Another institutional address, 0x6B8F, received 25 million USDT from the Tether Treasury, which was sent to FalconX and subsequently transferred to Coinbase and Binance.

Tether minted 1B $USDT again on #Tron 1 hr ago.

162.5M $USDT was transferred to #Binance and 28.6M $USDT was transferred to #Kraken.https://t.co/LdPcaJYjDihttps://t.co/PhryJjRgls pic.twitter.com/lDwmCjNUti

— Lookonchain (@lookonchain) March 20, 2023

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