Tether

Extracted Attributes

• Peg

  United States dollar (1:1 ratio)

• Type

  Stablecoin cryptocurrency

• Offices

  Switzerland

• Net Equity

  $11.9 billion

• Launch Year

  2014

• Incorporation

  British Virgin Islands (Tether Holdings Limited)

• Currency Codes

  USD₮, USDT

• Profit (H1 2024)

  $5.2 billion

• Profit (Q2 2024)

  $1.3 billion

• Primary Criticism

  Transparency of fiat reserves

• Market Capitalization

  Exceeded $114 billion

• Users (as of July 2024)

  Over 350 million

• Market Share (Stablecoins)

  70%

• Total Reserves (as of August 1, 2024)

  $118.4 billion

• Excess Reserves (as of August 1, 2024)

  $5.3 billion

• Supported Blockchains (as of January 2024)

  Fourteen protocols and blockchains

Timeline

• Tether (initially Realcoin) launched by Tether Limited Inc. (Source: Summary, Wikipedia, Web Search)

  2014

• Project renamed to "Tether" and entered private beta, supporting USTether, EuroTether, and YenTether. (Source: Web Search)

  2014-11-20

• Surpassed Bitcoin in global trading volume, becoming the most traded cryptocurrency. (Source: Summary, Wikipedia)

  2019

• Reported a profit of $1.3 billion. (Source: Summary, Wikipedia)

  2024-Q2

• Reported a total profit of $5.2 billion. (Source: Summary, Wikipedia)

  2024-H1

• Reported total reserves of $118.4 billion, including $5.3 billion in excess reserves. (Source: Wikipedia)

  2024-08-01

• Passage of the "Genius Act", establishing a regulatory framework for stablecoins like Tether under US jurisdiction. (Source: Related Documents, Summary)

  Undated (Recent)

Tether (cryptocurrency)

Tether, often referred to by its currency codes USD₮ and USDT, is a cryptocurrency stablecoin launched by Tether Limited Inc. in 2014. It is pegged to the United States dollar, and is distinct from a central bank digital currency (CBDC). As of 1 August 2024, Tether reported having $118.4 billion in reserves, including $5.3 billion in excess reserves. In the second quarter of 2024, the company achieved profit of $1.3 billion, contributing to a total profit of $5.2 billion for the first half of the year. Tether Limited also disclosed a net equity of $11.9 billion, and the stablecoin's market capitalization exceeded $114 billion. Tether is the largest cryptocurrency in terms of trading volume, holding 70% of the market share among stablecoins. In 2019, it surpassed bitcoin to become the most traded cryptocurrency globally. As of July 2024, Tether has more than 350 million users worldwide. Tether Limited is owned by iFinex, a company based in the British Virgin Islands which also operates the Bitfinex cryptocurrency exchange. As of January 2024, Tether's official website lists fourteen protocols and blockchains on which Tether has been minted. Tether faces criticism regarding the transparency and verifiability of its claimed fiat reserves.

Web Search Results

• Tether (cryptocurrency) - Wikipedia

  Tether, often referred to by its currency codes USD₮ and USDT, is a cryptocurrency stablecoin launched by Tether Limited Inc. in 2014.( It is pegged to the United States dollar, and is distinct from a central bank digital currency (CBDC). As of 1 August 2024, Tether reported having $118.4 billion in reserves, including $5.3 billion in excess reserves. In the second quarter of 2024, the company achieved profit of $1.3 billion, contributing to a total profit of $5.2 billion for the first half of [...] Tether is the largest cryptocurrency in terms of trading volume, holding 70% of the market share among stablecoins. In 2019, it surpassed bitcoin to become the most traded cryptocurrency globally.( As of July 2024, Tether has more than 350 million users worldwide.( Tether Limited is owned by iFinex, a company based in the British Virgin Islands which also operates the Bitfinex cryptocurrency exchange.( As of January 2024, Tether's official website lists fourteen protocols and blockchains on [...] On 20 November 2014, Tether CEO Reeve Collins announced the project was being renamed to "Tether"._[citation needed_] The company also announced it was entering private beta, which supported a "Tether+ token" for three currencies: USTether (US+) for United States dollars, EuroTether (EU+) for euros, and YenTether (JP+) for Japanese yen. Tether Holdings Limited is incorporated in the British Virgin Islands with offices in Switzerland, without giving details, and has never submitted to an

• What Is Tether & How Does It Work? Who Created USDT? - Kriptomat

  Tether is a fiat-collateralized stablecoin, which is a type of stablecoin that is backed by a fiat currency like USD, CAD, AUD, or even Yen (JPY). Tether was created to bridge the gaps between fiat currencies and blockchain assets while offering transparency, stability, and low fees for USDT users. Tether is pegged against the U.S. Dollar at a 1:1 ratio. There is no guarantee from Tether Ltd. for any right of redemption or exchange of Tether to USD. USDT cannot be exchanged directly for USD [...] What Is Tether (USDT)? -------------------------- Tether (USDT) is a stablecoin, which is a type of cryptocurrency that actively works to keep its valuation stable through market mechanisms. It’s used by investors who want to hedge against the inherent volatility of their cryptocurrency investments while still keeping value inside the crypto market, ready to be used without hassle. [...] Tether (USDT) is what’s known as a “Stablecoin” – a cryptocurrency designed to provide a stable price point at all times. The USDT cryptocurrency was created by Tether Limited to function as the internet’s Digital Dollar, with each token worth $1.00 USD and backed by $1.00 USD in physical reserves. Tether is used by millions of blockchain users each day to trade, hedge, and transact on various blockchain networks – without the need of a trusted third-party intermediary. However, despite being a

• Tether USDt price today, USDT to USD live price, marketcap and chart

  Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner. Tether works to disrupt the conventional financial system via a more modern approach to money. Tether has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency. As the first blockchain-enabled platform to facilitate the [...] Tether is a digital currency that aims to make digital payments more stable by creating tokens that are designed to maintain a value of one US dollar. Think of it like having digital dollar bills that you can send anywhere in the world quickly and cheaply using blockchain technology. While originally built on Bitcoin's blockchain, Tether now operates across multiple blockchain platforms. ### Technology Tether works by combining traditional banking with blockchain technology.

• What is Tether (USDT)? — Bitpanda Academy

  Launched in 2014, Tether (USDT) is one of the most popular stablecoins in terms of volume. Unlike other cryptocurrencies such as Bitcoin, whose price tends to fluctuate more unpredictably, Tether tries to hold its value around a specific asset. As a stablecoin, Tether is pegged or “tethered” to the US dollar, as the coin’s name suggests, in order to minimise price volatility. [...] Tether was created as a digital token that can be used across blockchains. As one of the pioneers of the stablecoin concept, Tether offers stablecoins tied to several different fiat currencies, including the US dollar (USDT), Euro (EURT), Mexican pesos (MXNT) and Chinese renminbi (CNHT), as well as gold (XAUT). This digital currency technology simplifies cross-border payments, as value isn’t necessarily lost in currency exchanges. What is a Tether token? --------------------------- [...] Tether tokens are digital stablecoin assets that are pegged to real-world currencies on a 1:1 basis. This is meant to reduce the volatility and, according to Tether, make their tokens a safer, more stable form of currency for individual traders and businesses, like crypto exchanges, wallets, and payment processors, to move value across markets. Tether tokens can also be used as a transaction currency on some platforms.

• Tether Price, USDT Price, Live Charts, and Marketcap - Coinbase

  Tether (USDT) is an Ethereum token that is pegged to the value of a U.S. dollar (also known as a stablecoin). Tether’s issuer claims that USDT is backed by bank reserves and loans which match or exceed the value of USDT in circulation. Important note: at this time, Coinbase only supports USDT on the Ethereum blockchain (ERC-20). Do not send USDT on any other blockchain to Coinbase.  Whitepaper Official website Buy Tether  Get up to $200 for getting started Sign me up  Image 33 $1.00 [...] Tether USDt, or USDT, is a digital token launched in 2014, designed to bridge traditional currencies with blockchain technology. Pegged to the value of one U.S. dollar, USDT is considered a stablecoin, aiming to offer consistency in value. Its issuer claims that each USDT token is backed by reserves consisting of assets like cash equivalents and loans. Operating on multiple blockchains, including Ethereum, Avalanche, and Algorand, Tether USDt facilitates transactions across diverse networks. [...] Tether (USDT) has positioned itself as a widely used stablecoin in the cryptocurrency ecosystem. Designed to maintain a 1:1 peg with the U.S. dollar, Tether is often utilized for transactions, remittances, and as a stable store of value within digital markets. Its future will likely depend on how well it adapts to evolving regulatory frameworks and user demands. Tether's ability to provide consistent transparency about its reserves and maintain its peg will be key factors in ensuring user trust

• Instance Of

  Q7889

A tether is a cord, fixture, or flexible attachment that characteristically anchors something movable to something fixed; it also maybe used to connect two movable objects, such as an item being towed by its tow. Applications for tethers include: fall arrest systems, lanyards, balloons, kites, airborne wind-power systems, anchors, floating water power systems, towing, animal constraint, space walks, power kiteing, and anti-theft devices.