Tether

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. As of 1 August 2024, Tether reported having $118.4 billion in reserves, including $5.3 billion in excess reserves. In the second quarter of 2024, the company reported a profit of $1.3 billion, contributing to a total profit of $5.2 billion for the first half of the year. Tether Limited also disclosed a net equity of $11.9 billion, and the stablecoin's market capitalization exceeded $114 billion.

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