USDT is a US dollar-linked cryptocurrency, issued by Tether Limited. Each token is provided with $ 1 on the company account. If Tether makes new coins, they must purchase dollars for them.
The founders of BitThintex BitFinex – Philippe Potter and Giancarlo Devasini – were working on the development of USDT. They pursued the goal of creating a currency exchange instrument with a stable exchange rate, which would allow the exchanges to resolve legislative problems in the derivation of crypts in Fiat. Tether uses a number of exchanges, among which are such market leaders as Bitfinex, Kraken, and Poloniex.
Often the exit to the “dollar” on such sites means exactly the output in USDT, which, in fact, is the same crypt, just with a stable exchange rate.
Tether and Bitfinex often hear accusations of issuing new tokens without collateral, more than once the number of coins has increased by several tens or hundreds of millions in a matter of hours. But the issue of “tokens” is still necessary to ensure demand in the growing market.
For the time being, no one has caught them, and who really needs it, because the system can break … While everything is working, and I do not think that there will be problems in the near future.