What is Tether in crypto

Yugocean

Valued Contributor
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Tether (USDT) is a centralized and popular stablecoin cryptocurrency, it works on multi-chain algorithm.

Tether Limited is a subsidiary of Tether Holdings Limited, a Hong Kong based company. Jan Ludovicus van der Velde, CEO of Bitfinex, a major cryptocurrency exchange platform, is also considered the CEO of Tether.

Being centralized, it is able to prevent any misuse of USDT. For example, when the KuCoin was hacked in November 2017, Tether defied hacking expectations by freezing the hacker's address.

It also acts at the request of law enforcement, such as having just recently sealed three blacklisted accounts on the Ethereum blockchain containing between 150 to 160 million USDT.

Because of this, Tether remains popular among various exchange platforms and traders, even after tether raised many controversies.
 
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