Crypto firm Cumberland deployed $1b Tether in 8 days.

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Since Aug. 6, Cumberland has sent over $1 billion in Tether Tether

USDT

-0.14%

Tether to CEX platforms like Binance, Coinbase, and Kraken, according to LookOnChain data.

Market makers provide liquidity in financial ecosystems and sometimes adopt an asset accumulation strategy to buffer profits or revenue. Cumberland’s CEX deposit spree began just after the global market slump on Aug. 5, when Bitcoin Bitcoin

BTC

3.37%

Bitcoin dipped below $50,000, and the total cryptocurrency market plunged to $1.8 trillion