298M USDT flowed to Kraken, Bitfinex in recent bear market

298M USDT flowed to Kraken, Bitfinex in recent bear market

According to LookOnChain's analysis of Etherscan data, "USD297.9 million worth of USDT was transferred from Tether Treasury to Kraken and Bitfinex during the recent dip. The market has since started to rebound. The market has since started to rebound." However, it's unclear who this money is from or what direction it will take.