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# What is USD Tether (USDT)?

United States Dollar Tether (USDT) is a stablecoin Crypto asset whose value per asset is US $1. So, the up and down movement follows the dollar exchange rate, in contrast to other Crypto assets such as bitcoin. USDT was founded by Tether, a Hong Kong based company. As of October 2021, USDT is the fifth largest Crypto asset measured by its market cap, valued at over $68 billion.