History of Tether (USDT) — The Titan of Stablecoins

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History of USDT

October 2014

Brock Pierce, Craig Sellars, and Reeve Collins initially launched USDT as Realcoin, marking a new era in digital currency.

November 2014

Reeve Collins, then CEO of Tether, renamed Realcoin to Tether (USDT), establishing a brand that would become synonymous with crypto stability.

January 2015

Bitfinex exchange became the first platform to list USDT for trading, expanding its reach in the financial markets.

November 2017

A security breach led to the theft of approximately $31 million in Tether tokens, underscoring the challenges in digital currency security.

September 2018

Tether's market cap soared above $2.8 billion, illustrating its growing acceptance and utility.

October 2018

The price of USDT momentarily dipped to $0.88 as traders reacted to rumors of credit risks, showcasing the volatility in the crypto markets.

April 2019

A significant legal action was taken against Bitfinex and Tether Limited for allegedly concealing a loss of $850 million, highlighting regulatory scrutiny.

July 2020

The market cap of Tether tokens broke the $10 billion barrier, signaling its dominance in the stablecoin sector.

February 2021

Bitfinex and Tether Limited agreed to settle with a $18.5 million penalty concerning the $850 million cover-up, marking a pivotal resolution.

April 2021

USDT's market cap exceeded $50 billion, reflecting its critical role in the global cryptocurrency market.

May 2022

In the wake of the TerraUSD collapse, USDT briefly fell 5% to $0.95, impacted by market-wide negative sentiments.

November 2022

Following a law enforcement request, Tether froze over $46 million worth of FTX-owned USDT tokens, demonstrating its compliance capabilities.

March 2024

USDT reached a monumental $100 billion market cap, cementing its place as a cornerstone of the cryptocurrency landscape.

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