Tether (USDT) is the world's largest stablecoin by market capitalisation and trading volume. It is issued by Tether Limited and claims to be fully backed by US dollar reserves. USDT is the primary trading pair on most cryptocurrency exchanges globally.
2014
Tether launches as Realcoin on Bitcoin's Omni layer
2019
NY Attorney General investigation reveals Tether covered $850M Bitfinex shortfall
2021
CFTC fines Tether $41M for misrepresenting reserves
2022
USDT briefly de-pegs to $0.96 during Terra/LUNA collapse panic
2024
Tether reports $6.2B profit — among the most profitable companies per employee globally
Stable store of value, trading pairs, remittances, DeFi liquidity
💡 Did You Know
Tether processes more daily transaction volume than Bitcoin and Ethereum combined on many days
⚠ Controversies & Red Flags
Tether has faced repeated questions about whether its reserves are fully backed. A 2021 CFTC settlement found it misrepresented its reserves.