Tether (cryptocurrency)

Tether is a stablecoin – a digital currency whose value aims to maintain a stable value relative to the United States dollar – launched by Tether Limited in 2014. It is represented by its currency codes USD₮ and USDT. In August 2026, KPMG U.S. completed Tether International's first full independent audit of its financial statements and issued an unqualified opinion under U.S. generally accepted accounting principles. Tether is one of the largest cryptocurrency companies in terms of trading volume, holding 70% of the market share among stablecoins. In 2019, it surpassed bitcoin to become the most traded cryptocurrency globally. As of July 2024, Tether has more than 350 million users worldwide. Tether Limited is owned by iFinex, a company based in the British Virgin Islands which also operates the Bitfinex cryptocurrency exchange. As of January 2024, Tether's official website lists fourteen protocols and blockchains on which Tether has been minted. Tether faces criticism regarding the transparency and verifiability of its stated fiat reserves. In addition to publishing quarterly attestations, Tether provides regularly updated information on token circulation and reserves on its official transparency page, including blockchain-level supply data across supported networks. USDT has been linked to money laundering and other financial crimes. Tether has also worked with law enforcement agencies to freeze tokens associated with suspected illicit activity; by February 2026, the company said it had frozen $4.2 billion in tokens connected to illicit activity.