Tether (USDT) is a stablecoin that mirrors the price of the U.S. dollar, although it was originally launched in 2014 as a realcoin, a second-layer cryptocurrency token built on top of Bitcoin’s blockchain through the use of the Omni platform, thus leveraging the security and transparency that they provide. It was later renamed USTether and finally dubbed USDT to work on the Ethereum, EOS, Tron, Algorand, and OMG blockchains

Tether converts cash into digital currency, to anchor or tether the value to the price of national currencies like the US dollar, the Euro, and the offshore Chinese yuan. The purpose of Tether is to combine the unrestricted nature of cryptocurrencies with the stable value of the traditional currencies. Mirroring the price of the U.S. dollar is achieved by maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation.

This crypto-asset was launched in 2014 by Brock Pierce, Reeve Collins and Craig Sellars. Pierce has also co-founded many other high-profile projects in the crypto and entertainment industries and  he became the director of the Bitcoin Foundation in 2014. Collins was the CEO of Tether for the first two years of its existence. Before that he co-founded the online ad network Traffic Marketplace, entertainment studio RedLever and gambling website Pala Interactive. He has also been in charge of SmartMedia Technologies since 2020. Sellars has been a member of the Omni Foundation for over six years and he has also worked in several other cryptocurrency companies and organizations, such as Bitfinex, Synereo, the MaidSafe Foundation and Factom.

According to CoinMarketCap, Tether’s price at the moment of writing this article is US$1,00 with a 24-hour trading volume of US$61.620.419.253. USDT is currently ranked number 4 in CoinMarketCap’s ranking with a live market cap of US$78.419.192.613. The crypto asset has a circulating supply of 78.391.169.307 USDT coins and the maximum supply is not available.The top cryptocurrency exchanges for trading in Tether stock are currently Balancer (V2) (Polygon), Binance, OKEx, Mandala Exchange, Bitfinex and CoinFLEX.