Tether, the cryptocurrency A type of stablecoin that has each of its tokens backed by US dollars, it is issued by Tether Limited and since its inception has been involved in various controversies.
pregnancy It was the first stablecoin to exist. It was launched in 2014 by businessman Reeve Collins. Bitcoin investor Brock Pierce; And developer Craig Steelers. Since then it has become the most important in terms of market value.
Tether was originally available through the Omni Layer, but can now be accessed over multiple tiers Block chains. With consent Tether Limitedyou can switch between USD and Tether, a mechanism that helps keep the stablecoin stable.
The Tether Limited network, in turn, is controlled by the owners of the Bitfinex cryptocurrency exchange, which the company has accused New York City Attorney’s Office To use Tether funds to cover $850 million in funds lost since mid-2018.
Cryptocurrency investors and regulators Also join the discussion By indicating that the stablecoin Not fully guaranteedA situation that brought it to court because its users have no guarantee that their tokens can be exchanged for dollars. On April 30, 2019, the company’s lawyer confirmed that the token was linked to an exchange rate of $0.74.
In 2018, Bloomberg reported that Tether was under investigation by the United States Federal Attorney’s Office for alleged manipulation of Bitcoin; The following year this encryption was surpassed Most popular in daily trading volume And monthly.
While the debate is getting hotter every day about the appropriateness of its use or not, Today Tether is trading at $0.999977, which represents a change of -0.02%. Regarding the last 24 hours and Variance -0.01% Noting its value reached in the past hour.
In terms of its popularity in the market, it has maintained its position Number 3 Among cryptocurrencies.
Cryptocurrencies were born in 2008 As an alternative to the decline in the value of many currencies as a result of the economic crisis of that year.
The first digital asset created was… Bitcoin Over time, others appeared, such as: Litecoin, Ethereum, Bitcoin, Cash, Ripple, Dogecoinsome of the most popular.
Cryptocurrencies work through a Cryptographic encryption that ensures the security of transactions, as well as control over the generation of their units .
To make transactions, Cryptocurrencies use a decentralized database, blockchain, or shared ledger.
It is worth noting that cryptocurrencies are digital currencies that do not actually exist, and unlike assets such as the dollar, euro or peso, they are not regulated by any institution and do not require intermediaries in transactions.
The latter has caused cryptocurrencies to not be viewed favorably by the official market, accusing them of being unreliable, volatile, encouraging fraud, not having a legal framework that supports their users, and allowing the operation of illegal activities, among other things.
However, little by little the way opened up to the point where companies, millionaires and even countries encouraged or permitted its use.
One of the world’s richest men, Elon Musk, has made comments in favor of cryptocurrencies such as Bitcoin and Dogecoin, temporarily allowing them to be used in the electric car company Tesla, increasing their cost.
in SaviorPresident Nayib Bukele has legalized Bitcoin, the first country to do so. In case MexicoRicardo Salinas Plego, one of the richest businessmen in the country, announced his intention to accept cryptocurrencies in his companies, and one of his main companies – the Elektra store – has already done so.
For his part, the president said ArgentinaAlberto Fernandez suggested using it to combat inflation. even in PeruThe Central Reserve Bank has warned that it is working on its own digital currency project.
Read on:
More news
Prices of other cryptocurrencies
Stock market in the world
“Beeraholic. Friend of animals everywhere. Evil web scholar. Zombie maven.”