Tether (USDT) price, chart and history
Tether is $0.9999, up 0.05% in the last 24 hours. Market value $184.07 billion, rank #3.
About Tether
Tether (USDT) is a stablecoin, a crypto token designed to always be worth one US dollar. It is the most widely used stablecoin in the world. Traders use it to move in and out of other cryptocurrencies without going back to a bank, and many people in countries with unstable local currencies use it to save and send dollars. USDT runs on many different blockchains, and each token is meant to be backed by assets the company holds.
Tether started in 2014 as Realcoin, a project led by Brock Pierce with Reeve Collins and Craig Sellars, and was renamed Tether that November. It is issued by a private company that has long been closely tied to the Bitfinex crypto exchange. Paolo Ardoino is its chief executive, and in 2025 the group moved its headquarters from the British Virgin Islands to El Salvador. In 2026 it added USAT, a separate token built for US rules.
USDT does not have its own network or miners. Tether creates new tokens when customers deposit dollars and removes them when they cash out, so the company, not a blockchain, decides what is backed. It says its reserves are mostly US Treasury bills, plus smaller amounts of gold, bitcoin and loans. Critics note that US regulators found its reserves were not always fully backed in earlier years, and that it only hired a major firm for a full audit in 2026.
- Created by
- Brock Pierce, Reeve Collins and Craig Sellars
- Launched
- October 6, 2014 (first tokens issued)
- How it's secured
- Issued and redeemed by Tether; runs on other blockchains
- Supply
- No cap; about $184 billion in March 2026
- Peg
- Aims for 1 USDT = 1 US dollar