Tether

USD-pegged stablecoin operator

Tether (USDT) anchors the entire crypto market to the dollar, with a market cap exceeding $114 billion as of mid-2024. The stablecoin operates across multiple blockchains, from Ethereum to Solana to Polygon, making it the de facto on-ramp for retail and institutional flows. Tether Limited reported $118.4 billion in reserves backing the token, along with $5.2 billion in profits for the first half of 2024.

The addresses tracked here represent Tether's operational footprint on EVM networks. Attribution comes from public blockchain records and official documentation corroborating the entity's on-chain movement of liquidity. Tether's custody model relies on in-house cold storage infrastructure, with strategic distribution points across major exchanges and market makers to maintain peg stability.

/ Overview

On-chain footprint

Tracked addresses

Networks · EVM

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First seen on-chain

/ Context

How Tether maintains peg

USDT's stability depends on reserve backing and rapid flow. The addresses on this page show how Tether orchestrates liquidity across Ethereum and compatible chains. When demand spikes on a specific network, Tether can mobilize reserves from cold storage to minters and custodians. This distributed approach has kept the peg within tight bounds through multiple crypto cycles.

/ Vault

All 1 addresses

Showing 1 of 1

010x5754284f345afc66a98fbb0a0afe71e0f007b949EVMVIEW

/ See also

Related entities

Binance Deposit

Fund · 54 tracked addresses

54 addrBTC / ETH

CPD

Coinbase Prime Deposit

Fund · 27 tracked addresses

27 addrBTC / ETH

Coinbase Deposit

Fund · 18 tracked addresses

18 addrETH

/ Questions

FAQ

Where does Tether store its reserves?

Tether maintains in-house cold storage facilities for the majority of its $118.4 billion in reserves. The company has also disclosed excess reserves beyond liabilities, providing a buffer against redemption pressure. Custodial relationships with select partners support secondary distribution.

What is USDT and how is it minted?

USDT is a dollar-pegged stablecoin issued by Tether Limited. When users deposit USD with Tether or an authorized partner, new USDT tokens are minted on the requested blockchain. Redemption works in reverse: USDT burned on-chain converts back to fiat at par value.

How were these addresses attributed to Tether?

The addresses listed here were identified through public blockchain data, official company filings, and documented on-chain behavior. These represent a selection of Tether's verified operational wallets, not the complete reserve base. The entity operates additional holdings across multiple storage tiers.

Is Tether profitable?

Yes. In Q2 2024 alone, Tether generated $1.3 billion in profit, with $5.2 billion reported for the first half of the year. The company's net equity stands at $11.9 billion. Revenue derives from interest on reserves and backing assets held against issued USDT.