X

Feedback + Support

Need Assistance? Notice something missing or broken? Let us know!

Press esc to dismiss

project icon for tether

Tether

USDT
$1.00
0.18%
Positive delta icon
warning icon

Disclaimer

Preface: Signals are projects that have sufficiently demonstrated relevance in the industry in some form, for at least a finite period of time, as collectively agreed upon by Smith + Crown’s team of professional blockchain researchers. Our team has concluded that Bitfinex LEO qualifies as a signal at this time.

That said, this project has demonstrated characteristics that we find concerning and feel a responsibility to communicate upfront. Those concerns are as follows:

  • Accusations of fraud and legal uncertainty surrounding a pending NYAG lawsuit regarding the management of Tether reserves

Status as Signal is always subject to revision based on the best available evidence of a project’s performance and industry trends. It is imperative that you gather your own facts, evidence and make your own educated assessment of this, and every blockchain-based project. This disclaimer, research profile, and other Smith + Crown content is meant to highlight considerations that help you arrive at your own independent conclusions.

Tether is a stablecoin issued on the Bitcoin blockchain’s Omni Layer that is designed to be fully-backed in a one-to-one ratio with the United States Dollar.

Overview

Project Stage

Live status icon

Amount Raised

Market Cap

$4,116MM

Sector

Stablecoin

Blockchain

Native token icon

Omni

Funding Source

Project Profile

Tether is among the earliest stablecoins, cryptocurrency that maintains a stable price through a pegged underlying asset. Tether is designed to offer token holders a low-volatility asset and provide key industry entities—most notably crypto exchanges—a source of liquidity. Tether’s executive team, which includes CEO JL van der Velde, CFO Giancarlo Devasini, and CSO Philip Potter, was eventually revealed as identical to Bitfinex’s, making Tether a side-project of a prominent exchange. Prior to rebranding in February of 2015, Tether was known as Realcoin.

Project Details

Tether offers users a tokenized claim on the project’s United States Dollars holdings. Users can send fiat currency to Tether (the off-chain incorporated entity) and Tether issues a digital token (Tether) representing that currency on the Bitcoin blockchain using the Omni Layer. Tether claims to retain all fiat currencies in designated bank accounts, with each Tether purportedly entirely backed by US dollars held in reserve. Many have questioned this claim, and Tether so far has been unable to furnish an official audit from an accredited auditor that satisfies critics. Tokens are redeemable for the underlying fiat, though Tether’s legal terms of service state that the project is not legally obliged to do so in every instance. However, a December 2018 report by Bloomberg indicated that it had seen Tether bank statements indicating that it did hold the backing funds over a prior four month period. In March 2019, Tether updated its Terms of Service to indicate that it's reserves may not be exclusively fiat and can include other assets and loans receivable.

Tether’s issuance utilizes the Omni Layer, a colored coins protocol for creating and trading decentralized digital assets.The Omni Layer can attach data to individual Bitcoins, thus ‘coloring’ them to represent both the coin’s underlying Bitcoin value (typically a tiny fraction of a Bitcoin) and the Tether value. All issued, redeemed, and existing Tethers, including transactional history, are publicly auditable via the tools provided at Omniexplorer.info. A smaller number of Tethers also exist as ERC-20 tokens upon the Ethereum blockchain. Users can exchange newly created Tether tokens on a permissionless basis, or between accounts, such as accounts on different crypto exchanges. Tether charges no fees on transactions between Tether wallets or blockchain wallets, and approximately $20 on deposits and withdrawals to fiat bank accounts.

Asset Details

Tether is a stablecoin. Holding the token confers users the right to reclaim the token’s underlying pegged asset. New tokens are issued when users send fiat, typically USD, to Tether’s reserves and tokens are removed from circulation when users reclaim reserved assets. Exchanges are a primary Tether user, as Tether allows exchanges to easily settle outstanding fiat-like balances. Tether is also attractive to cryptocurrency market participants as a means for avoiding volatility within the crypto sector.

Further analysis and commentary about Tether can be found in S+C's extended report.

project icon for tether

Tether

USDT
$1.00
0.18%
Positive delta icon
warning icon

Disclaimer

Preface: Signals are projects that have sufficiently demonstrated relevance in the industry in some form, for at least a finite period of time, as collectively agreed upon by Smith + Crown’s team of professional blockchain researchers. Our team has concluded that Bitfinex LEO qualifies as a signal at this time.

That said, this project has demonstrated characteristics that we find concerning and feel a responsibility to communicate upfront. Those concerns are as follows:

  • Accusations of fraud and legal uncertainty surrounding a pending NYAG lawsuit regarding the management of Tether reserves

Status as Signal is always subject to revision based on the best available evidence of a project’s performance and industry trends. It is imperative that you gather your own facts, evidence and make your own educated assessment of this, and every blockchain-based project. This disclaimer, research profile, and other Smith + Crown content is meant to highlight considerations that help you arrive at your own independent conclusions.

Tether is a stablecoin issued on the Bitcoin blockchain’s Omni Layer that is designed to be fully-backed in a one-to-one ratio with the United States Dollar.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Live status icon
Live
$4,116MM
Native token icon

Omni

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Stablecoin

Project Profile

Tether is among the earliest stablecoins, cryptocurrency that maintains a stable price through a pegged underlying asset. Tether is designed to offer token holders a low-volatility asset and provide key industry entities—most notably crypto exchanges—a source of liquidity. Tether’s executive team, which includes CEO JL van der Velde, CFO Giancarlo Devasini, and CSO Philip Potter, was eventually revealed as identical to Bitfinex’s, making Tether a side-project of a prominent exchange. Prior to rebranding in February of 2015, Tether was known as Realcoin.

Project Details

Tether offers users a tokenized claim on the project’s United States Dollars holdings. Users can send fiat currency to Tether (the off-chain incorporated entity) and Tether issues a digital token (Tether) representing that currency on the Bitcoin blockchain using the Omni Layer. Tether claims to retain all fiat currencies in designated bank accounts, with each Tether purportedly entirely backed by US dollars held in reserve. Many have questioned this claim, and Tether so far has been unable to furnish an official audit from an accredited auditor that satisfies critics. Tokens are redeemable for the underlying fiat, though Tether’s legal terms of service state that the project is not legally obliged to do so in every instance. However, a December 2018 report by Bloomberg indicated that it had seen Tether bank statements indicating that it did hold the backing funds over a prior four month period. In March 2019, Tether updated its Terms of Service to indicate that it's reserves may not be exclusively fiat and can include other assets and loans receivable.

Tether’s issuance utilizes the Omni Layer, a colored coins protocol for creating and trading decentralized digital assets.The Omni Layer can attach data to individual Bitcoins, thus ‘coloring’ them to represent both the coin’s underlying Bitcoin value (typically a tiny fraction of a Bitcoin) and the Tether value. All issued, redeemed, and existing Tethers, including transactional history, are publicly auditable via the tools provided at Omniexplorer.info. A smaller number of Tethers also exist as ERC-20 tokens upon the Ethereum blockchain. Users can exchange newly created Tether tokens on a permissionless basis, or between accounts, such as accounts on different crypto exchanges. Tether charges no fees on transactions between Tether wallets or blockchain wallets, and approximately $20 on deposits and withdrawals to fiat bank accounts.

Asset Details

Tether is a stablecoin. Holding the token confers users the right to reclaim the token’s underlying pegged asset. New tokens are issued when users send fiat, typically USD, to Tether’s reserves and tokens are removed from circulation when users reclaim reserved assets. Exchanges are a primary Tether user, as Tether allows exchanges to easily settle outstanding fiat-like balances. Tether is also attractive to cryptocurrency market participants as a means for avoiding volatility within the crypto sector.

Further analysis and commentary about Tether can be found in S+C's extended report.

Recent News

Ethereum's share of Tether volume rises to 40%, highlighting transaction scalability issues.

Originally issued as a token solely on Bitcoin's Omni platform, the ERC-20 version of Tether has gained significant traction in 2019. Transactions in the ERC-20 version are currently the largest source of Ethereum transaction fees, and overall network utilization is roughly 90%. Vitalik Buterin emphasizes sharding and Proof of Stake approaches in Ethereum 2.0 as critical to long-term scalability, necessary for low-fee access for both Tether and other applications.

August 26, 2019

Sources:

more

Tether plans to release a fourth stablecoin, CHNT, pegged to the Chinese Yuan.

Unlike a previous renminbi stablecoin released by eToro, the CHNT will be tied to the offshore yuan rather than the onshore yuan. Few details have emerged about the upcoming token, which is slated to be released in the near future. Tether is also planning to release a Japanese Yen-backed stablecoin, JPYT.

August 21, 2019

Sources:

more

New York Supreme Court Judge delays decision on dismissal of NYAG's case against Bitfinex, in which it alleges the exchange misappropriated funds from Tether's reserve to cover losses

July 29, 2019

Sources:

CoinDesk
Load More
Show projects Article List
Sort icon: direction descending
project icon for zrx
ZRX
Profile Updated
2d
Update on 0x v3, including protocol fees, staking incentives, and liquidity pooling with Uniswap, Kyber, and Oasis.
No icon fallback
LUNA
Project Added as Signal
10d
Terra is an algorithmically-governed, seigniorage share style stablecoin blockchain platform to which a collection of fiat-pegged tokens and a stabilizing cryptoasset, Luna, are native.
Profile Updated
27d
Stellar Development Foundation burns 55 billion XLM from its reserves, over half of the total supply, and removes the ongoing inflation to current token holders. The SDF had previously earmarked these tokens for community airdrops and ongoing organization funding.
Project Added as Signal
42d
Nervos is a public, PoW-based smart contract platform that utilizes off-chain computation in service of transaction scalability and implements a unique token emissions mechanic that imposes a perpetual cost for on-chain data storage.
Profile Updated
53d
Supply Information added.
project icon for beam
BEAM
Profile Updated
56d
Supply Information added.
project icon for grin
GRIN
Profile Updated
56d
Supply Information added.
Profile Updated
59d
Supply Information added.
Profile Updated
59d
Supply Information added.
project icon for siacoin
SC
Profile Updated
59d
Mining Information added.
project icon for dash
DASH
Profile Updated
60d
Mining and Supply Information added.
Profile Updated
60d
Mining and Supply Information added.
Profile Updated
63d
Mining and Supply information added.
Profile Updated
64d
Mining and Supply Information added.
project icon for kin
KIN
Project Removed as Signal
71d
Kin removed as Signal.
project icon for simple
OST
Project Added as Signal
71d
OST added as Signal.
Profile Updated
85d
Signal profile updated.
Project Added as Signal
99d
Edgeware added as Signal.
Profile Updated
101d
Ethereum Classic profile added.
project icon for steem
STEEM
Profile Updated
113d
Signal profile updated.
Profile Updated
113d
Signal profile updated.
project icon for neo
NEO
Profile Updated
113d
Signal profile updated.
No icon fallback
KLAY
Project Added as Signal
113d
Klaytn added as Signal.
No icon fallback
ALTG
Project Added as Signal
119d
Althea added as Signal.
Profile Updated
126d
Signal profile updated.
No icon fallback
UMA
Project Added as Signal
133d
UMA added as Signal.
No icon fallback
LIBRA
Project Added as Signal
134d
Libra added as Signal.
Project Added as Signal
139d
Chainlink added as Signal.
Profile Updated
145d
Signal profile updated.
Profile Updated
152d
Signal profile updated.
project icon for chia
CHIA
Profile Updated
157d
Signal profile updated.
project icon for bitfinex-leo
LEOTOKEN
Project Added as Signal
163d
Bitfinex LEO added as Signal.
project icon for coda
CODA
Profile Updated
169d
Signal profile updated.
Project Added as Signal
175d
Paxos added as Signal.
project icon for celo
CELO
Project Added as Signal
181d
Celo added as Signal.

You've reached the end of the list

project icon for tether

Tether

USDT
$1.00
0.18%
Positive delta icon
warning icon

Disclaimer

Preface: Signals are projects that have sufficiently demonstrated relevance in the industry in some form, for at least a finite period of time, as collectively agreed upon by Smith + Crown’s team of professional blockchain researchers. Our team has concluded that Bitfinex LEO qualifies as a signal at this time.

That said, this project has demonstrated characteristics that we find concerning and feel a responsibility to communicate upfront. Those concerns are as follows:

  • Accusations of fraud and legal uncertainty surrounding a pending NYAG lawsuit regarding the management of Tether reserves

Status as Signal is always subject to revision based on the best available evidence of a project’s performance and industry trends. It is imperative that you gather your own facts, evidence and make your own educated assessment of this, and every blockchain-based project. This disclaimer, research profile, and other Smith + Crown content is meant to highlight considerations that help you arrive at your own independent conclusions.

Tether is a stablecoin issued on the Bitcoin blockchain’s Omni Layer that is designed to be fully-backed in a one-to-one ratio with the United States Dollar.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Live status icon
Live
$4,116MM
Native token icon

Omni

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Stablecoin

Project Profile

Tether is among the earliest stablecoins, cryptocurrency that maintains a stable price through a pegged underlying asset. Tether is designed to offer token holders a low-volatility asset and provide key industry entities—most notably crypto exchanges—a source of liquidity. Tether’s executive team, which includes CEO JL van der Velde, CFO Giancarlo Devasini, and CSO Philip Potter, was eventually revealed as identical to Bitfinex’s, making Tether a side-project of a prominent exchange. Prior to rebranding in February of 2015, Tether was known as Realcoin.

Project Details

Tether offers users a tokenized claim on the project’s United States Dollars holdings. Users can send fiat currency to Tether (the off-chain incorporated entity) and Tether issues a digital token (Tether) representing that currency on the Bitcoin blockchain using the Omni Layer. Tether claims to retain all fiat currencies in designated bank accounts, with each Tether purportedly entirely backed by US dollars held in reserve. Many have questioned this claim, and Tether so far has been unable to furnish an official audit from an accredited auditor that satisfies critics. Tokens are redeemable for the underlying fiat, though Tether’s legal terms of service state that the project is not legally obliged to do so in every instance. However, a December 2018 report by Bloomberg indicated that it had seen Tether bank statements indicating that it did hold the backing funds over a prior four month period. In March 2019, Tether updated its Terms of Service to indicate that it's reserves may not be exclusively fiat and can include other assets and loans receivable.

Tether’s issuance utilizes the Omni Layer, a colored coins protocol for creating and trading decentralized digital assets.The Omni Layer can attach data to individual Bitcoins, thus ‘coloring’ them to represent both the coin’s underlying Bitcoin value (typically a tiny fraction of a Bitcoin) and the Tether value. All issued, redeemed, and existing Tethers, including transactional history, are publicly auditable via the tools provided at Omniexplorer.info. A smaller number of Tethers also exist as ERC-20 tokens upon the Ethereum blockchain. Users can exchange newly created Tether tokens on a permissionless basis, or between accounts, such as accounts on different crypto exchanges. Tether charges no fees on transactions between Tether wallets or blockchain wallets, and approximately $20 on deposits and withdrawals to fiat bank accounts.

Asset Details

Tether is a stablecoin. Holding the token confers users the right to reclaim the token’s underlying pegged asset. New tokens are issued when users send fiat, typically USD, to Tether’s reserves and tokens are removed from circulation when users reclaim reserved assets. Exchanges are a primary Tether user, as Tether allows exchanges to easily settle outstanding fiat-like balances. Tether is also attractive to cryptocurrency market participants as a means for avoiding volatility within the crypto sector.

Further analysis and commentary about Tether can be found in S+C's extended report.

Recent News

Ethereum's share of Tether volume rises to 40%, highlighting transaction scalability issues.

Originally issued as a token solely on Bitcoin's Omni platform, the ERC-20 version of Tether has gained significant traction in 2019. Transactions in the ERC-20 version are currently the largest source of Ethereum transaction fees, and overall network utilization is roughly 90%. Vitalik Buterin emphasizes sharding and Proof of Stake approaches in Ethereum 2.0 as critical to long-term scalability, necessary for low-fee access for both Tether and other applications.

August 26, 2019

Sources:

more

Tether plans to release a fourth stablecoin, CHNT, pegged to the Chinese Yuan.

Unlike a previous renminbi stablecoin released by eToro, the CHNT will be tied to the offshore yuan rather than the onshore yuan. Few details have emerged about the upcoming token, which is slated to be released in the near future. Tether is also planning to release a Japanese Yen-backed stablecoin, JPYT.

August 21, 2019

Sources:

more

New York Supreme Court Judge delays decision on dismissal of NYAG's case against Bitfinex, in which it alleges the exchange misappropriated funds from Tether's reserve to cover losses

July 29, 2019

Sources:

CoinDesk
Load More