Tether

Tether, the leading stablecoin pegged to the US dollar, has a rich history. Launched in 2014 as Realcoin, it aimed to bring stability to cryptocurrency transactions. Initially operating on the Bitcoin blockchain, it gained traction for transfers between exchanges and as a safe haven during market dips. However, a 2015 acquisition by owners linked to the Bitfinex exchange and questions about the reserves backing each Tether token have cast a shadow. Despite these controversies, Tether remains a major player, though calls for transparency regarding its reserves persist.