CashboardStablecoin · USDT
Tether (USDT) live price dashboard
USDT is meant to sit at one dollar. The part worth watching is when it does not, and where the supply is moving. The board below tracks the peg, the supply and the chains USDT lives on.
What is Tether?
USDT is the dollar stablecoin Tether has issued since 2014, and the largest by supply. Tether says the reserves are mostly short-dated US Treasury bills with some gold and bitcoin on top, and it publishes a quarterly attestation rather than a full audit. Exchanges quote in it, mostly on TRON and Ethereum.
Tether started in 2014, first under the name Realcoin, as a token on Bitcoin's Omni Layer. It later spread to Ethereum and TRON, where cheap transfers made it the default dollar for exchange deposits and payments across borders. The company moved its headquarters to El Salvador in 2025. Paolo Ardoino is CEO.
Supply grows when approved customers buy USDT from Tether and shrinks when they redeem. About $185 billion was in circulation in mid-2026, more than twice USDC. The reserves look very different from 2021, when the CFTC fined Tether $41 million over claims about its backing. Commercial paper is gone. Treasury bills now make up most of the pile, and BDO signs a quarterly attestation, which is a snapshot of one date rather than a full audit.
For US institutions Tether launched a separate token, USAT, on January 27, 2026, issued through Anchorage Digital Bank under the GENIUS Act. USDT stays the offshore, exchange-facing dollar. Its mints and burns are still one of the better tells for money moving into or out of crypto.
| Symbol | USDT |
|---|---|
| Category | Stablecoin |
| CoinGecko id | tether |
| Price sources in Cashboard | CoinGecko |
| Wallet tracking | Watch-only, on Solana or an indexed EVM chain |
What do traders watch on USDT?
- Large USDT mints, often read as fresh capital heading to exchanges.
- Peg stability during sharp sell-offs and heavy redemptions.
- Quarterly attestations and regulatory news about Tether.
How do you check whether USDT holds its peg?
A stablecoin chart is supposed to be boring. What tells you something is the gap to one dollar, which way supply is going and how much of it sits on a single chain. Stablecoin risk shows all three from DefiLlama and flags a row at 0.5% off the peg; Market flows adds the market-wide supply trend.
Where can you read more about Tether?
Frequently asked questions
What backs USDT?
Reserves held by Tether, mostly short-dated US Treasury bills, plus other cash equivalents, gold, bitcoin and secured loans. BDO attests to them every quarter. That checks the reserves on one date, and it is not a full audit.
Is USDT on TRON the same as USDT on Ethereum?
It is the same token from the same issuer, but the two versions live on different networks and cannot be sent to each other directly. Sending TRON USDT to an Ethereum deposit address, or the reverse, can strand the funds, so check the network on every transfer. TRON transfers usually cost less than Ethereum mainnet ones.
How can I tell if USDT is losing its peg?
Put the Stablecoin risk widget on a board. It shows USDT against one dollar with supply change and chain concentration, marks the row as watch at 0.5% off the peg and high at 2%, and does the same for sharp supply drops. Data comes from DefiLlama.
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Last reviewed . Market data in Cashboard comes from the providers named on each widget and may be delayed. Nothing here is financial advice.