USDT
Tether USDT
active
Fiat Backed
USD
Market Cap $184.5B
Tether's USDT is the leading stablecoin, maintaining a 1:1 peg with the U.S. dollar, backed primarily by U.S. Treasury bills.
Key Data
| Backing | U.S. Treasury bills, cash equivalents, and other assets |
| Auditor | BDO Italia |
| Reserve Reporting | Tether publishes live reserve and transparency figures at tether.to/transparency. Formal assurance reports by BDO Italia have historically been issued periodically (approximately quarterly). |
| Redemption | USDT can be redeemed for USD through Tether's platform, subject to terms of service. |
| Min. Redemption | $100,000 |
| KYC Required | Yes |
| Peg Currency | USD |
| Launched | 2014 |
Supported Networks
Cross-Chain Supply (DefiLlama · $184.4B total)
Smart Contracts
Ethereum
0xdAC17F958D2ee523a2206206994597C13D831ec7
Tron
TR7NHqjeKQxGTCi8q8ZY4pL8otSzgjLj6t
Solana
Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB
Regulatory Status
El Salvador
DASP / Stablecoin Issuer
Depeg History
| Date | Low Price | Duration | Cause |
|---|---|---|---|
| 2022-05-12 | $0.9485 | 8h | LUNA/UST contagion |
Use Cases
PaymentsTradingDefi CollateralRemittances
Tether's USDT is the largest stablecoin by market capitalization, launched in 2014. It is designed to maintain a 1:1 peg with the U.S. dollar.
USDT allows users to redeem tokens for USD through Tether's platform, subject to terms of service.
Tether's reserves include U.S. Treasury bills and cash equivalents, with a record $122 billion in U.S. Treasury holdings by the end of 2025.
Recent Activity
- 2026-05-13RegulationArkham maps Iran central bank wallets after $344M USDT freeze
- 2026-05-08RegulationTether freezes over $500M of USDT in 30 days, BlockSec data shows
- 2026-05-01AdoptionTether-backed Oobit rolls out virtual Visa cards for AI agent USDT spending
- 2026-04-30AdoptionRealOpen and TRON verify $9.4M in USDT for crypto-enabled real estate purchases
- 2026-04-24RegulationTether freezes $344M USDt stablecoins at US law enforcement request
- 2026-04-18AdoptionIran views BTC as a strategic asset, but USDt still dominates oil tolls: BPI
- 2026-04-03IssuanceStablecoin supply reaches $315B in Q1 as USDC rises, USDT declines
- 2026-03-27RegulationTether hires KPMG for first full USDT audit, FT reports
- 2026-03-14AdoptionCircle‘s USDC overtook Tether‘s USDT in adjusted YTD volume: Mizuho
- 2026-03-11RegulationUS seeks forfeiture of $3.4M in USDt tied to crypto investment scam
- 2026-03-03RegulationUS authorities seek to recover $327K USDt from romance fraud scheme
- 2026-02-20IssuanceTether USDT supply set for biggest monthly decline since 2022 FTX collapse
- 2022-05-12DepegLUNA/UST contagion
- —Our coverageStablecoin Recap Mar 16–23, 2026: USDC saw a $0.399 billion outflow as the total stablecoin market cap decreased by $0.04 billion.
Other USD Stablecoins
Profile compiled from issuer disclosures, regulatory filings, press releases, and financial media. Market and on-chain data sourced directly or via third-party providers. See methodology.