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Tether (often referred to by its currency codes, USD₮ and USDT, among others) is a cryptocurrency stablecoin launched by Tether Limited Inc. in 2014. [3] [4]As of August 1, 2024, Tether reported having $118.4 billion in reserves, including $5.3 billion in excess reserves.
Examples: TrueUSD (TUSD), [4] USD Tether (USDT), [5] USD Coin, [citation needed] Monerium EURe. [6] In January 2023, National Australia Bank (not Australia's central bank) announced that it would create by mid-2023 an Australian Dollar fiat-backed stablecoin called the AUDN, for streamlining cross-border banking transactions and trading carbon ...
USDT may refer to: USDT, the ticker symbol for the Tether stablecoin cryptocurrency; United States Department of the Treasury; Ultra-slim desktop, a computer formfactor used by Hewlett-Packard, see HP business desktops; University of Science and Defense Technologies, an Iranian research institute of the Malek-Ashtar University of Technology
USD Coin (USDC) is a cryptocurrency stablecoin which is issued by Circle. It is pegged to the United States dollar, and is distinct from a central bank digital ...
On 21 November 2017, Tether announced that it had been hacked, losing $31 million in USDT from its core treasury wallet. [186] On 7 December 2017, Slovenian cryptocurrency exchange Nicehash reported that hackers had stolen over $70 million using a hijacked company computer. [187]
Terra is a blockchain that leverages fiat-pegged stablecoins to power a payment system. For consensus, the Terra blockchain uses a proof-of-stake codesign. [4] Several stablecoins are built atop the Terra protocol, [4] including TerraUSD, which was the third largest stablecoin by market capitalisation before its collapse in May 2022. [5]
In May 2015, the exchange was hacked, which resulted in the loss of 1,500 Bitcoins or about $400,000 USD of their customers' assets. [8] [9] In June 2016, the U.S. Commodity Futures Trading Commission ordered Bitfinex to pay a $75,000 fine for offering illegal off-exchanged financed commodity transactions.
Binance USD (BUSD) was a US Dollar-pegged stablecoin issued by Paxos on the behalf of Binance. [ 90 ] In January 2023, Bloomberg reported that Binance-Peg BUSD "was often undercollateralized between 2020 and 2021.