USDT Price Quotes Today_usdt market_USDT Price Quotes Today_20230917
Summary:Tether price today's market price is /coin。What Is Tether (USDT)?USDT

Tether price today's market price is /coin。

Tether Price Quotes Today

What Is Tether (USDT)?

USDT is a stablecoin (stable-value cryptocurrency) that mirrors the price of the U.S. dollar, issued by a Hong Kong-based company Tether. The token’s peg to the USD is achieved via 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.

Originally launched in July 2014 as Realcoin, a second-layer cryptocurrency token built on top of Bitcoin’s blockchain through the use of the Omni platform, it was later renamed to USTether, and then, finally, to USDT. In addition to Bitcoin’s, USDT was later updated to work on the Ethereum, EOS, Tron, Algorand, and OMG blockchains.

The stated purpose of USDT is to combine the unrestricted nature of cryptocurrencies — which can be sent between users without a trusted third-party intermediary — with the stable value of the US dollar.

Stablecoins are increasingly used as an inflation hedge in recent times; compared to keeping fiat currency in a savings account averaging 0.06%, users can lend their stablecoins and earn yields ranging from 3% to as high as 20%. However, keep in mind that regulatory, platform risks and more entail.

Who Are The Founders Of Tether?

USDT — or as it was known at the time, Realcoin — was launched in 2014 by Brock Pierce, Reeve Collins and Craig Sellars.

Brock Pierce is a well-known entrepreneur who has co-founded a number of high-profile projects in the crypto and entertainment industries. In 2013, he co-founded a venture capital firm Blockchain Capital, which by 2017 had raised over $80 million in funding. In 2014, Pierce became the director of the Bitcoin Foundation, a nonprofit established to help improve and promote Bitcoin. Pierce has also co-founded, the company behind EOS, one of the largest cryptocurrencies on the market.

Reeve Collins was the CEO of Tether for the first two years of its existence. Prior to that, he had co-founded several successful companies, such as the online ad network Traffic Marketplace, entertainment studio RedLever and gambling website Pala Interactive. As of 2020, Collins is heading SmarMedia Technologies, a marketing and advertising tech company.

Other than working on Tether, Craig Sellars has been a member of the Omni Foundation for over six years. Its Omni Protocol allows users to create and trade smart-contract based properties and currencies on top of Bitcoin’s blockchain. Sellars has also worked in several other cryptocurrency companies and organizations, such as Bitfinex, Factom, Synereo and the MaidSafe Foundation.

What Makes Tether Unique?

USDT’s unique feature is the fact that its value is guaranteed by Tether to remain pegged to the U.S. dollar. According to Tether, whenever it issues new USDT tokens, it allocates the same amount of USD to its reserves, thus ensuring that USDT is fully backed by cash and cash equivalents.

The famously high volatility of the crypto markets means that cryptocurrencies can rise or fall by 10-20% within a single day, making them unreliable as a store of value. USDT, on the other hand, is protected from these fluctuations.

This property makes USDT a safe haven for crypto investors: during periods of high volatility, they can park their portfolios in Tether without having to completely cash out into USD. In addition, USDT provides a simple way to transact a U.S. dollar equivalent between regions, countries and even continents via blockchain — without having to rely on a slow and expensive intermediary, like a bank or a financial services provider.

However, over the years, there have been a number of controversies regarding the validity of Tether’s claims about their USD reserves, at times disrupting USDT’s price, which went down as low as 0.88 at one point in its history. Many have raised concerns about the fact that Tether’s reserves have never been fully audited by an independent third party.

What Is the Tether FUD About?

Tether has been the target of a lot of FUD due to its murky balance sheet and lack of a public audit. The company has repeatedly been fined for misleading statements around the state of its books. After Tether released a first breakdown of its balances, it came under even more scrutiny from regulators over its claims that all issued stablecoins are fully backed by dollar reserves.

Even though a report supposedly cleared Tether from any allegations of wrongdoing, doubts remain. The company has been in repeated spats over its business practices, but most in crypto accept that Tether is, in a way, "too big too fail."

Tether Enters the Latin American Market

In May 2022, Tether announced the launch of MXNT, a new stablecoin backed by the Mexican peso. The move marked its expansion into the Latin American market following earlier debuts of its USDT, EURT and CNHT stablecoins, pegged to the U.S. dollar, euro and Chinese yuan, respectively.

Upon launch, MXNT will be available on three major blockchains: Ethereum, Polygon and Tron.

According to the firm’s CTO, Paolo Ardoino, the decision to expand into Latin America was fueled by an increase in cryptocurrency usage in the region. Notably, a report from cryptocurrency payments company Triple A revealed that 40% of Mexican companies were interested in adopting cryptocurrencies in one form or the other, with 71% within the segment specifically focused on cryptocurrency usage.

Tether named Mexico a “prime location” for the next Latin American crypto hub. The plan is to onboard as many new users within the Latin American market, and use the launch of MXNT as a testing ground for future fiat-pegged currencies in the region.

Is Tether Entering the Social Media Market?

In July 2022, Tether, alongside peer-to-peer data network Hypercore and its sister company Bitfinex, collaborated on a social media app called Keet.

The fully encrypted video chat application is currently a desktop-only app for now, but there are plans to extend the product to mobile devices soon.

Keet app is the first app to be deployed on Holepunch, a platform that allows developers to build Web3 apps. And although Keet is still a closed-source project, the companies plan to make it open-source by the end of the year.

Commenting on why Tether was launching a chat app, Ardoino, who doubles as the chief strategy officer at Holepunch, simply said “freedom of speech.”

How Many Tether (USDT) Coins Are There In Circulation?

There is no hard-coded limit on the total supply of USDT — given the fact that it belongs to a private company, theoretically, its issuance is limited only by Tether’s own policies. However, because Tether claims that every single USDT is supposed to be backed by one U.S. dollar, the amount of tokens is limited by the company’s actual cash reserves.

Moreover, Tether does not disclose its issuance schedules ahead of time. Instead, they provide daily transparency reports, listing the total amount of their asset reserves and liabilities, the latter corresponding to the amount of USDT in circulation.

As of September 2020, there are over 14.4 billion USDT tokens in circulation, which are backed by $14.6 billion in assets, according to Tether.

How Is the Tether Network Secured?

USDT does not have its own blockchain — instead, it operates as a second-layer token on top of other cryptocurrencies’ blockchains: Bitcoin, Ethereum, EOS, Tron, Algorand, Bitcoin Cash and OMG, and is secured by their respective hashing algorithms.

Where Can You Buy Tether (USDT)?

It is possible to buy Tether / USDT on a large number of cryptocurrency exchanges. In fact, USDT’s average daily trading volume is often on par or even exceeds that of Bitcoin. It is especially prominent on those exchanges where fiat-to-crypto trading pairs are unavailable, as it provides a viable alternative to USD. Here are some of the most popular exchanges that support Tether trading:

Binance、OKEx、HitBTC、Huobi Global

    Tether trading platform

Tether trading platform information

1. OKEx Exchange: the exchange with the largest number of "big players" in the digital currency market and virtual currency

OKEx, as the exchange with the largest number of large players in the currency market, is also the first to open contract trading among the three major exchanges, and it is still gradually aligning with the contract position during development. In the past, 2020 was called the contract year, and the OKEx exchange also took advantage of the momentum to launch many contract games. OKex’s contracts are famous for their high multiples and small flat shares, attracting a large number of contract players, and the market viscosity is extremely high. If things go on like this, OKEx will become the direction mark of the currency contract.

2. Huobi Exchange: the exchange with the most "retail investors" in the currency market

According to relevant data analysis, Huobi Exchange can basically be said to be the exchange with the largest number of digital currency retail investors in the currency market. As a veteran exchange established in 2013, Huobi still has many loyal fans. Moreover, in all fairness, Huobi has successfully captured the requirements of most retail investors, and most of them have achieved deep-level best in terms of "spot buying currency" and "spot market".

3. Coinbase (USA): the exchange with the highest level of internationalization

Coinbase is the world's largest digital currency exchange. As of December 31, 2020, Coinbase's encrypted currency transaction volume was 193 billion US dollars, an increase of 141.7% over 2019, with a compound growth rate of 258%, accounting for 11.1% of the total market share. Financial data for the first quarter of 2021, of which the total revenue is about 1.8 billion US dollars, an increase of over 844% year-on-year

4. BitMEX (Hong Kong, China)

BitMEX buys and sells Bitcoin and other digital currency contracts, reaching 100 times leverage. Fast implementation, low cost, complete functions, and flexible transactions.

5. ZB (ZB)

ZB is a global data currency exchange. It has obtained the exchange license plates of Thailand and Dubai. The operation team has 4 years of experience in the blockchain field. The company's employees are located in China, the United States, Thailand, South Korea, Canada, Dubai and other places. . There are many currencies, suitable for computers and mobile phones, convenient registration, suitable for RMB; in addition, ZB has acquired a two-letter com domain name, which shows that it has certain economic strength.

6. Bitfinex

Bitfinex is one of the largest bitcoin trading platforms in the world. It is suitable for the trading of digital currencies such as Ethereum, Bitcoin, and Ethereum. The daily transaction volume reaches more than 3 billion RMB, and it is suitable for information currency transactions of US dollars and yuan online recharge. It is also one of the most frequently stolen Bitcoin trading centers. Trading pairs: 175 my country: Hong Kong Trading volume (24h): 8,997,430 Applicable: spot futures. is the former Bitcoin foreign data currency exchange, headquartered in Hong Kong, China. Since the announcement of the c2cRMB online recharge method on the platform in 2017, the transaction volume has soared. It is currently a popular digital currency trading platform for Chinese customers' fiat currency transactions, and supports fixed investment funds, loans, and 100-fold leverage contracts. Trading pairs: 292 my country: Hong Kong Trading volume (24h): ?7,272,210 Applicable: currency spot futures.


Coinbase is the first bitcoin exchange in the UK with a reliable license plate. In 2018, it was approved by the US government (SEC and FINRA) to issue the total license plate for trading securities and currencies! Coinbase is one of the most well-known digital currency exchanges in the world! Trading pairs: 4 my country: UK trading volume (24h): ?454,980 Applicable: spot market.

9. MXC Matcha Exchange

MXC (Uji Matcha) trading market is a digital currency trading platform dedicated to the communication and exchange of blockchain technology assets. MXC provides customers with blockchain asset circulation services such as coins, loans, contracts, financial investment, etc., mainly including Bitcoin (BTC), Ethereum (ETH), and other virtual currency markets. Trading pairs: 197 my country: Malaysia Trading volume (24h): ?6,074,440 Applicable: currency spot market.


AOFEX is located in London, and its Asian headquarter is located in Malaysia. It is the world's leading security digital currency service platform. It has obtained the UK MSB data currency transaction license plate and the Malaysian MAS service project exemption. AOFEX has always adhered to the value concept of "customer first, honesty, friendliness and reliability, technological innovation and tolerance, and cooperation". Persevere in the corporate mission of "becoming a well-known digital financial investment platform and providing services for 10 million investors and qualified investors".

The above is the detailed content of Tether price today, the latest news of Tether, and the value of Tether. I hope it will be helpful to you!

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