Tether's reserves report, signed off by accountants BDO Italia, says Tether's assets rose to $86.5 billion in the three months to June 30, 2023, up 5.7% from the previous quarter and a record high, according to previous reports on its website.
Who owns Tether USD?
IFinex Inc. Tether Limited is owned by the Hong Kong-based company iFinex Inc., which also owns the Bitfinex cryptocurrency exchange.
How much is Tether company worth?
Tether Price Data The cryptocurrency is ranked 3 with a market cap of $91B. Over the last 24 hours, it saw $38.4B of trading volume. The token has a circulating supply of 91B tokens out of a total supply of 91B tokens.
Is Tether tied to the dollar?
As a stablecoin, Tether is pegged or “tethered” to the US dollar, as the coin's name suggests, in order to minimise price volatility.
Is Tether backed by real money?
USDT is backed by real-world assets such as fiat currency and U.S. Treasurys so that it is always one to one redeemable with the U.S. dollar. Stablecoins are used by traders to move in and out of different cryptocurrencies without the need to convert money back into fiat currencies.
Is Tether USDT coin a scam?
The US government seized almost $9 million worth of Tether tokens traced to an organized network of scammers who stole millions from victims across the country.