Tether (USDT) Price, Real-time Quote & News

Tetheris a stablecoin – a digital currency whose value is backed 1:1 by the United States dollar – launched by Tether Limited in 2014. It is represented by its currency codes USD₮ and USDT. 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 reported a 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 one of the largest cryptocurrency companies 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. Wikipedia

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