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Which company issued USDT?
Tether Limited, the issuer of the world's largest stablecoin USDT, has faced scrutiny over its reserve holdings.
Oct 11, 2024 at 09:17 pm
1. Tether Limited
Tether Limited is the company that issued USDT, the largest stablecoin in the cryptocurrency market. Tether Limited is a privately held company incorporated in the British Virgin Islands.
2. History of USDT
USDT was launched in 2014 under the name RealCoin. In 2015, the name was changed to Tether. USDT is designed to be a stablecoin, which means its value is pegged to the US dollar.
3. How Does USDT Work?
USDT is a fiat-backed stablecoin, which means it is backed by US dollars held in reserve by Tether Limited. For every USDT in circulation, Tether Limited claims to have $1 USD in reserve.
4. Controversy Surrounding USDT
USDT has been the subject of controversy over its reserves. In 2018, Tether Limited admitted that USDT was not fully backed by US dollars. Instead, it was backed by a combination of US dollars, other fiat currencies, and cryptocurrencies.
5. Current Status of USDT
Despite the controversy, USDT remains the largest stablecoin in the cryptocurrency market. It is used by traders and investors to hedge against volatility in the crypto markets.
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