Society, economy & sport

Introduction of Tether

November 2015

Tether is a cryptocurrency known as a stablecoin, meaning that its value is designed to stay equal to one United States dollar. It is issued by the company Tether Limited, which says that each token is backed by reserves. It was first launched under a different name, Realcoin, on top of the Bitcoin network, and it later spread to other blockchains. Tether became the most widely traded cryptocurrency by volume, because traders use it to move in and out of other digital assets. It has attracted regulatory scrutiny and criticism over how transparent its reserves are, and the company reached a settlement with the New York attorney general in 2021.

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