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What is Tether? The Tether definition is fairly simple. Tether (USDT) is a stablecoin cryptocurrency, with every token aimed toward monitoring the value of 1 U.S. greenback. Property pegged to the worth of nationwide currencies (fiat currencies) are called stablecoins. Individuals can promote different cryptocurrencies for USDT to guard towards volatility whereas maintaining the flexibility to send the asset to personal wallets or storage. Ethereum, as well as other blockchains, host USDT.

If you’re all in favour of taking part in a specific blockchain or DeFi protocol, then you’ll need to ensure the stablecoin you select is supported on that network. USDC and USDT can each be used for lending, staking, and offering liquidity for trading pairs, though the returns and performance for each might vary.

Tether has been the goal of lots of FUD as a consequence of its murky stability sheet and lack of a public audit. The corporate has repeatedly been fined for misleading statements around the state of its books. After Tether launched a primary breakdown of its balances, it got here under much more scrutiny from regulators over its claims that every one issued stablecoins are absolutely backed by dollar reserves.