Cryptocurrency Q&A
How much USDT is backed by cash?
How much USDT is backed by cash?
Giuseppe
Fri Oct 25 2024
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5
answers
1226
I'm wondering about the cash backing for USDT. Specifically, I want to know the amount of cash that is currently being used to support or back the value of USDT in the market.
5 answers
BlockchainBrawler
Sun Oct 27 2024
The Tether cryptocurrency, denoted as USD₮, operates on a principle of full backing and transparency.
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ZenBalance
Sun Oct 27 2024
Each Tether token is designed to maintain a 1-to-1 peg with its corresponding fiat currency.
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Lorenzo
Sun Oct 27 2024
This means that every USD₮ token is equivalent to one US dollar in value.
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Giulia
Sun Oct 27 2024
The backing of these tokens is ensured by Tether's reserves, which hold the equivalent amount of fiat currency.
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Leonardo
Sat Oct 26 2024
This mechanism guarantees that the tokens are always fully supported and not over-issued.
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