Tether's Bitcoin Reserve Activity Slows After Q2, Minor Test Transfer to Binance

On July 11, 2026, Tether moved four Bitcoin (about $250,000) from its reserve wallet to Binance. Blockchain analytics label the transfer as a test, not confirming any sale. The same wallet had sent 204.3 BTC to Bitfinex in early June, valued at roughly $14.4 million when Bitcoin traded near $70 k.

Tether’s policy allocates up to 15 % of quarterly profit to Bitcoin purchases. The reserve address, holding around 96,936 BTC (≈ $6.7 billion), has not received any large Bitcoin inflows since the end of the second quarter, suggesting a slowdown or possible shift in its accumulation strategy. Observers note the absence of the usual end‑quarter transfer to the reserve wallet and monitor future on‑chain activity for clues.

The limited on‑chain movements have sparked speculation about whether Tether is pausing Bitcoin buying, adjusting its risk approach, or simply conducting internal tests, but no definitive sale or purchase has been confirmed.