The verdict is still out on whether Tether is legitimate, and if it will survive or not. But even if it were to fall through, does it really pose enough of a risk to the cryptocurrency ecosystem to warrant sitting on the sidelines?
USDT is a cryptocurrency asset issued on the Bitcoin blockchain via the Omni Layer Protocol. Each USDT unit is backed by a U.S Dollar held in the reserves of the Tether Limited and can be redeemed through the Tether Platform.
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto who published a related paper in 2008 and released it as open-source software in 2009.