Stablecoin firm Tether said Tuesday it plans to invest its resources into renewable energy production, marking the company's first foray into the energy sector.
Tether issues what is known as a stablecoin. This is a token that, unlike bitcoin and other cryptocurrencies, is meant to hold a stable value at all times.
Stablecoins are used by traders to move in and out of different cryptocurrencies without converting money back into fiat currencies. The company has gotten into hot water in the past, as regulators and economists have questioned the integrity of the assets backing its token.
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