What Is Tether (USDT)?
What Is Tether (USDT)? Tether (USDT) is a cryptocurrency stablecoin pegged to the U.S. dollar and backed "100% by Tether's reserves," according to its website. 1 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. Originally based on the Bitcoin blockchain, Tether now supports Bitcoin's Omni and Liquid protocols as well as the Ethereum, TRON, EOS, Algorand, Solana, and Bitcoin Cash (SLP) blockchains. 2 As of January 2023, Tether was the third-largest cryptocurrency after Bitcoin (BTC) and Ethereum (ETH) and the largest stablecoin with a market capitalization of nearly $68 billion. 3 In 2022, Tether's USDT