Tether is always 100% backed by reserves, which includes traditional cash and cash equivalents. Every Tether is also 1-to-1 pegged to the United States dollar, so 1 USDT is always valued by Tether at 1 USD.
The value of Tether reserves are published daily on their website. The value of these reserves matches or exceeds the value of all Tethers in circulation. This makes the stable coin incredibly secure and transparent.
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