Tether (USDT) is the world's largest stablecoin. It is one of the top five largest cryptocurrencies by market capitalization and has been trading in the cryptocurrency markets for over seven years.
While there have been some controversies surrounding Tether's US dollar reserves in the past, the company has made a point of providing regular proof of reserves to ensure that traders and investors can be confident that money held in USDT is safe.
Tether is critical to the operation of the cryptocurrency market, making it one of the crypto space's "too big to fail" projects.