Lookonchain said that Cumberland has already injected nearly $6.28 billion into the crypto markets since October 2023.
Crypto trading firm Cumberland may be “buying the dip,” taking advantage of the current market downturn to turn a profit using a $95 million investment.
On Aug. 7, blockchain analytics platform Lookonchain flagged that the crypto trading firm received 95 million Tether (USDT) from the stablecoin issuer’s treasury. After receiving USDT tokens from the Tether treasury, Cumberland distributed them to various cryptocurrency exchanges.
According to Lookonchain, the company deposited USDT into Coinbase, Kraken and OKX. The analytics platform added that since October 2023, the trading company has injected about $6.28 billion into the crypto markets.
