DeFi

Planet

<div class="intro-text">
 Tether, the leading stablecoin issuer by market capitalization, is setting its sights on the artificial intelligence (AI) sector to challenge tech giants like Microsoft and Amazon, according to CEO Paolo Ardoino.
</div>
In a<a style="color: #0000ff;" href="https://www.wired.com/story/tether-ceo-paolo-ardoino-crypto-ai-interview/" rel="noopener noreferrer nofollow"> recent WIRED interview</a>, Ardoino outlined Tether’s evolving strategy, which now includes significant investments in decentralized technologies and brain-computer interfaces. This shift will be fueled by the company’s substantial profits. The USDT issuer recorded an estimated $11.9 billion over the past two years, largely due to rising interest rates.
Ardoino explained, 
<blockquote>
 “With this amount of money, we could have distributed it all to shareholders, to make everyone happy. Instead, part of it is being added to the reserve to further back the stablecoin, and the rest is basically being held in the investment arm.”
</blockquote>
Tether’s venture capital initiatives are not solely focused on financial returns but are deeply rooted in the principles of decentralization and financial freedom that inspired Bitcoin. Ardoino believes decentralization could provide essential independence in the AI sector, which he describes as “heavily politicized.”
<blockquote>
 “We are already seeing how AI is being heavily politicized. We believe that having a player independent of the classic actors — like Amazon, Microsoft, and Google — is going to be very, very important,” 
</blockquote>
Ardoino stated.
Unlike typical venture capital approaches, the CEO noted that over 90% of Tether’s profits will be reinvested into ventures that align with its vision of interdependence rather than distributed as dividends.
Addressing potential concerns about investment risks, Ardoino assured that Tether’s approach includes thorough due diligence. He noted the firm is committed to actively supporting and, when necessary, managing the companies it backs, reflecting its dedication to fostering sustainable growth aligned with its core values.
Meanwhile, Tether has already made strides in AI development. In March 2024, it<a style="color: #0000ff;" href="https://tether.io/news/tether-expands-ai-focus-welcomes-top-talent-to-fuel-innovation/" rel="noopener noreferrer nofollow"> announced</a> the creation of a new AI division. This division focuses on developing open-source AI models and collaborating with other firms to incorporate these models into products that address real-world challenges.
&nbsp;
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.
“Take control of your crypto portfolio with Markets PRO, DeFi Planet’s suite of analytics tools.”
The post <a href="https://defi-planet.com/2024/08/tether-sets-sights-on-ai-sector-ceo-eyes-rivaling-microsoft-and-amazon/" rel="noopener noreferrer nofollow">Tether Sets Sights on AI Sector, CEO Eyes Rivaling Microsoft and Amazon</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Tether Sets Sights on AI Sector, CEO Eyes Rivaling Microsoft and Amazon

DeFi Planet

Other articles published on Aug 12, 2024

Nasdaq and BlackRock Propose Options for Spot Ethereum ETF: SEC Decision Expected by April 2025

Important Binance Announcement Concerning These 6 Altcoins

Bitcoin, Ethereum, Dogecoin Slide As Middle East Tensions Escalate After Hezbollah's Israel Attac...

Binance and X face government blockade in Venezuela

Shiba Inu Price Faces Slowdown Amid Market Shift

Dynachain Named Platinum Sponsor of Malaysia Blockchain Weeks; Event Wraps Up Successfully

Join our free newsletter for daily crypto updates!