Tether

USDT Launched 2014 source

What this page is: neutral, sourced facts about Tether. Every line links where it was checked. 12 facts, 6 from primary sources. Educational, not financial advice.

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Launch

Launched in 2014. primary source source

Founders and creators

Originally named "Realcoin", announced in July 2014 by co-founders Brock Pierce, Reeve Collins, and Craig Sellars as a Santa Monica-based startup. secondary source source

Origin story

The first tokens were issued on 6 October 2014, on the bitcoin blockchain. secondary source source

Stated purpose

USD₮ is a stablecoin pegged 1:1 to the USD. secondary source source

Consensus mechanism

Tether Tokens exist as digital tokens built on several leading blockchains, including Ethereum, Solana, Ton and Tron. primary source source

Supply model

Every Tether token is backed by Tether's reserves (issuer claim). secondary source source

Main uses today

In January 2015, the cryptocurrency exchange Bitfinex enabled trading of Tether on their platform. secondary source source

Key milestones

On 20 November 2014, Tether CEO Reeve Collins announced the project was being renamed to "Tether". secondary source source

Notable events and controversies

New York Attorney General: Bitfinex and Tether required to pay $18.5 million and to submit reserve reports (Feb 2021). primary source source
CFTC ordered Tether to pay $41 million over misleading statements about USDT reserves (Oct 2021). primary source source
A CFTC order required Tether to pay a civil monetary penalty of $41 million and to cease and desist from further violations of the Commodity Exchange Act. primary source source
The New York Attorney General's agreement required iFinex, Tether, and related entities to cease trading activity with New Yorkers and pay $18.5 million in penalties. primary source source

Sources & studies

Last checked: 2026-11-04 · Prices, market caps and circulating supply are left out on purpose because they change by the minute. Educational, not financial advice.

Education only, not financial advice. No signals. Backtests are hypothetical: real trading can be worse. Past results don't predict future results.