Tether (USDT) is a stablecoin that is pegged at the price of US dollars. It is a type of cryptocurrency that is designed to maintain a stable value. As of 12 Oct 2021, its market cap is around USD$62B. Not sure what stablecoins are? Read my article introduction to stablecoins. Who created Tether? Tether was developed by a company called Tether Limited in 2014. Its management team included a significant number of people from Bitfinex, a cryptocurrency exchange. The Tether team used to claim that it is 100% backed by USD. However, there was a dispute about whether it has the dollar reserves to back all USDT tokens in circulation. Despite the many controversies surrounding it, Tether has steadily been growing and is now one of the biggest cryptocurrencies by market cap. Why was Tether created? Tether’s purpose is to facilitate transactions in cryptocurrency markets with speed and efficiency. It also aims to provide traders and users with a stable alternative to Bitcoin....