What is USDT (Tether)?

Tether (USDT) is a stablecoin that was launched in 2014. It is pegged to the US dollar and backed by a reserve of fiat currency and other assets.

Despite facing controversies, such as a $41 million fine in 2021 for misleading users about reserves, USDT is still the most popular stablecoin in the world.

USDT’s early launch gave the project a first-mover advantage, and today USDT is the largest stablecoin by market capitalization and is widely supported by DeFi protocols. #USDT $BTC