Tether vs. USD Coin
A neutral side-by-side look at Tether (USDT) and USD Coin (USDC): live market data, how each one works and what it's for.
Tether (USDT) and USD Coin (USDC) are the two largest dollar stablecoins, both designed to stay worth $1. USDT is bigger and dominant on exchanges and the Tron network; USDC is issued by Circle, holds its reserves in cash and short-term Treasuries, and is common in regulated US apps.
Live comparison
| Measure | Tether USDT | USD Coin USDC |
|---|---|---|
| Price | — | — |
| Market cap | — | — |
| Market cap rank | — | — |
| 24h trading volume | — | — |
| 24h change | — | — |
| 7-day change | — | — |
| Circulating supply | — | — |
| Maximum supply (CoinGecko) | — | — |
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Key facts side by side
| Measure | Tether USDT | USD Coin USDC |
|---|---|---|
| Launched | 2014 | 2018 |
| Created by | Tether Ltd. (founded by Brock Pierce, Reeve Collins and Craig Sellars) | Circle (launched with Coinbase) |
| How it's secured | No blockchain of its own: a token issued on many networks, including Ethereum and Tron | No blockchain of its own: a token issued on many networks |
| What it's for | A dollar stablecoin designed to stay worth $1 | A dollar stablecoin backed by cash and short-term US Treasuries |
| Maximum supply | No cap: USDT is issued when customers deposit dollars and destroyed when they redeem | No cap: USDC is issued and redeemed one-for-one for dollars |
How they differ
- Issuer: USDT is issued by Tether Ltd.; USDC by Circle.
- Reserves: both say each token is backed by reserves. USDC's are cash and short-term US government securities; Tether's also include other assets.
- History: in 2021 the US CFTC fined Tether $41 million over past statements about its reserves. USDC briefly fell to about $0.88 in March 2023 during the Silicon Valley Bank failure, then recovered.
- Where they live: both are tokens on many blockchains. Always send on the network the receiver supports.
This page compares how two cryptocurrencies work. It doesn't say which to buy, and nobody can reliably predict their prices. Both can fall sharply. Read how to research a cryptocurrency before deciding anything.
Questions
Is Tether better than USD Coin?
Neither is risk-free and neither is a bank deposit. They differ in issuer, reserves and history, and some apps support one but not the other. This compares facts and isn't advice.
Are USDT and USDC FDIC insured?
No. Stablecoins aren't bank deposits and aren't covered by FDIC insurance. See what is a stablecoin?
Why is one coin's price so much higher than the other's?
The price of a single coin mostly reflects how many coins exist. Tether and USD Coin have very different supplies, so comparing prices per coin is misleading. Market cap (price × coins in circulation) is a better measure of size; see market cap explained.
Where does the live data come from?
From CoinGecko's public API, averaged across many exchanges and refreshed about once a minute. The facts table comes from each project's own documentation and the references listed under Sources.
Where to next
Sources
- Tether (tether.to)
- Tether (Wikipedia)
- USDC (Circle)
- Stablecoins (ethereum.org)
- CoinGecko API (live market data)
Facts checked against the sources listed, as of October 29, 2026. Live data by CoinGecko, for information only and possibly delayed. Educational only; not financial advice. How we write and check pages.