Tether Floods Into Kraken Exchange, Where Crypto Traders Can Get Dollars

Tether (USDT) tokens are flooding into a wallet address controlled by the Kraken exchange, one of the few places where the troubled stablecoin can be converted into U.S. dollars.

The exchange’s wallet balance stands at nearly 47.8 million USDT at the time of writing, making it the eighth-most valuable wallet holding this asset, according to the Tether Rich List.

Contrast that to the situation less than two weeks ago, on Oct. 7, when Kraken’s tether wallet ranked much lower – 22nd place – and held less than half its current balance: 21.6 million USDT. Archived versions of the rich list show the wallet balance fluctuating between around 10 million and 24 million USDT in the period from late December 2017 to early October.

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