Tag: Tether (USDT)

Tether (USDT) is a cryptocurrency stablecoin pegged to the U.S. dollar and backed “100% by Tether’s reserves,” according its website. Tether is owned by iFinex, the Hong Kong-registered company that also owns the crypto exchange BitFinex.

Tether was launched as RealCoin in July 2014 and was rebranded as Tether in November 2014. It started trading in February 2015. Originally based on the Bitcoin blockchain, Tether now supports Bitcoin’s Omni and Liquid protocols as well as the Ethereum, TRON, EOS, Algorand, Solana, OMG Network, and Bitcoin Cash (SLP) blockchains.

As of May 2022, Tether was the third-largest cryptocurrency after Bitcoin (BTC) and Ethereum (ETH), and the largest stablecoin with a market capitalization of nearly $83 billion. In April 2022, Tether’s USDT accounted for two-thirds of exchanges out of Bitcoin by value.