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Share Tweet Send Share. Prev Next. For updates and exclusive offers enter your email below. In Tether's case, each token is backed with its "reserves. It is issued over various blockchains, such as Bitcoin , Ethereum, Tron, and OMG Network, and finds a use case across trading, investing, money laundering , and as collateral for yields on decentralized finance DeFi apps.
Much of that growth has come from this year as well. But such activity has drawn criticism and skepticism among crypto circles and regulators alike. The unending issuances had previously even led to academic research that attributed the entire Bitcoin rally of as a result of excessive USDT being pumped into the crypto market. Tether, on its part, maintains that all of its issuance has been audited by a third-party company, but has failed to provide more details. Despite such controversy, traders and investors continue to use Tether every day.