Who owns tether?

Four men owned 86% of Tether as of 2018, according to investigatory documents viewed by the Wall Street Journal. The documents from 2021 probes of Tether by the New York Attorney General and the federal Commodity Futures Trading Commission reveal the previously unknown ownership structure of the secretive issuer of the world’s largest stablecoin.

What is Tether (USDT)?

Tether ( USDT) is a cryptocurrency stablecoin pegged to the U.S. dollar and backed "100% by Tether's reserves," according to its website. Tether is owned by iFinex, the Hong Kong-registered company that also owns the crypto exchange BitFinex. Tether was launched as RealCoin in July 2014 and was rebranded as Tether in November 2014.

What does tether stand for?

Tether - Overview, History, Reserves Tether Holdings Limited (Tether) is a blockchain company that was founded in 2014 and is most well-known for its USD₮ token. Corporate Finance Institute

Is tether backed 1 to 1?

Before February 25, 2019, Tether Limited's terms claimed " Every tether is always backed 1-to-1, by traditional currency held in our reserves. So 1 USDT is always equivalent to 1 USD ", which was and remains false.