Odd Lots
Transcript: Bennett Tomlin Explains How Tether Works
Understanding a crucial component of the crypto ecosystem.
The Tether logo on a laptop computer arranged in the Brooklyn borough of New York, US, on Thursday, Nov. 17, 2022
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Tether is a crucial component of the crypto ecosystem. It's also a controversial one. And yet, even as other crypto entities implode, the stablecoin has continued to hold its peg. So what is it? How does it work? And who created it? To learn more, we spoke with Bennett Tomlin of the Crypto Critics Corner podcast. This transcript has been lightly edited for clarity.