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On Sat, 21 Dec, 4:01 PM UTC
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[1]
Tether Plans $5 Billion Investment With AI Platform Launch in 2025
The stablecoin issuer plans to expand in the US, anticipating crypto-friendly policies under President-elect Donald Trump Tether CEO Paolo Ardoino has disclosed big plans for the company as the stablecoin issuer is on the path to achieving a $10 billion profit in 2024. Amid a strong surge in Bitcoin and the broader crypto market, the demand for its native stablecoin USDT has skyrocketed with its market cap soaring more than 50% to $140 billion. Furthermore, Ardoino also spoke about launching the company's won artificial intelligence (AI) platform. USDT stablecoin issuer Tether has witnessed strong growth this year and is on the way to achieving $10 billion in profits. A significant portion of its revenue comes by investing the reserves that back its stablecoins, including USDT, into assets such as US Treasuries, gold, and other securities. As a result, the firm continues to maintain massive dominance as the stablecoin market hits over $200 billion. Ardoino said that this year the company has invested more than half of its profits. On Friday, Tether announced a $775 million investment in the video-sharing platform Rumble. This includes a primary cash commitment of $250 million, along with support for Rumble's tender offer to acquire up to 70 million shares at $7.50 per share. The announcement came after the US market closure but was enough to send the Rumble stock soaring 50% in after-hours thereby shooting to $11. Speaking on the current developments, Paolo Ardoino stated: "Next year we plan to deploy at least half of the profits in investments" including in AI. "Our investment is just at the beginning." Furthermore, the firm is also planning to pivot into the world of Artificial Intelligence (AI) by launching its own AI platform. Ardoino announced that the Tether AI platform will go live in Q1 2025 enabling users to interact with artificial intelligence directly through their mobile phones. Tether is looking to expand its footprint in the US market while expecting crypto-friendly regulations under President-elect Donald Trump's administration. Howard Lutnick, nominated by Donald Trump as Commerce Secretary, is the CEO of Cantor Fitzgerald, a firm that holds a stake in Tether and manages the reserves backing the stablecoin issuer. On the other hand, with MiCA crypto regulations kicking into the European Union by the year-end, several local crypto exchanges have started delisting USDT stablecoin. However, analysts believe the exit could mean a disadvantage over the Americas where crypto adoption is on the rise.
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Paolo Ardoino Teases Timeline For Tether AI Platform Launch
The draft website for the Tether AI platform is ready with potential Q1 launch Paolo Ardoino, the CEO of USDT parent company Tether Holdings Ltd, has revealed the latest details regarding the firm's Artificial Intelligence (AI) pivot. Taking to the social media platform X, Ardoino said he has received the draft of the site for the Tether AI platform. While he didn't share additional detail on what the platform looks like, the post has sparked a broad intrigue in the crypto ecosystem. The stablecoin issuer hopes to join the growing list of firms making a direct pivot into the AI scene. Following the broad success of firms like OpenAI and Anthropic over the past year, there has been a wide appeal to diversify into AI. Tether first teased its Artificial Intelligence platform as far back as July this year. As reported by Coingape at the time, the firm's plan hinges on creating a Peer-2-Peer (P2P) AI Agents with multiple capabilities. Later in October, Paolo Ardoino revealed that the AI Agent will focus on privacy to complement the P2P design. As the company retains its dominance as the biggest stablecoin in the market with USDT in circulation topping $140 billion, it has continued developing its AI product. In November, Tether introduced WDK Toolkit to create self-custody wallets for AI and robots. It now remain unclear whether the firm seek to harmonize this WDK Toolkit and the AI agents under one platform. However, Ardoino revealed that the firm is targeting the end of Q1 2025 to launch the platform. The stablecoin issuer has continued to spread its tentacles to different markets and industries. Besides launching Dirham-pegged stablecoin on TON and other chains to deepen its stablecoin dominance, Tether has also invested in non-crypto companies and initiatives. As reported by Coingape, Tether has ventured into the crude oil business after it faciliated a trade in the Middle East. This deal was worth $45 million and sets the firm as the first in the stablecoin business to facilitate such. The company is able to do all of these diversification and expansions as it is quite profitable. The stablecoin issuers reported $2.5 billion revenue in Q3, taking its yearly gains to $7.7 million as of October 31. In addition, USDT wallet count has topped 109 million, setting an unusual pace for growth.
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Tether, the leading stablecoin issuer, announces plans to launch an AI platform in Q1 2025 while projecting $10 billion in profits for 2024. The company is expanding its investments and considering growth in the US market.
Tether, the company behind the world's largest stablecoin USDT, is making waves in the cryptocurrency and technology sectors with its ambitious plans for the future. CEO Paolo Ardoino has unveiled the company's strategy to launch an artificial intelligence (AI) platform in the first quarter of 2025, marking a significant pivot into the AI space 1.
Tether's financial performance has been remarkable, with projections indicating a potential $10 billion profit in 2024. This success is largely attributed to the surging demand for its USDT stablecoin, which has seen its market cap soar by over 50% to $140 billion 1. The company's dominance in the stablecoin market is evident, with the total market cap exceeding $200 billion.
Ardoino revealed that Tether plans to invest at least half of its profits in various ventures, including AI development. The company has already made significant moves, such as a $775 million investment in the video-sharing platform Rumble 1. This diversification strategy extends beyond crypto, with Tether facilitating a $45 million crude oil trade in the Middle East, marking it as the first stablecoin issuer to enter this market 2.
The upcoming Tether AI platform aims to enable users to interact with artificial intelligence directly through their mobile phones. While specific details are limited, Ardoino has hinted at a focus on privacy and a peer-to-peer design for AI agents 2. The company has already introduced the WDK Toolkit for creating self-custody wallets for AI and robots, potentially integrating this technology into the broader AI platform 2.
Tether is eyeing expansion in the US market, anticipating crypto-friendly policies under the potential administration of President-elect Donald Trump. This optimism is partly due to Trump's nomination of Howard Lutnick as Commerce Secretary, who has ties to Tether through Cantor Fitzgerald 1.
However, the company faces challenges in Europe, where upcoming MiCA regulations have led some local crypto exchanges to delist USDT. Analysts suggest this could potentially benefit Tether's position in the Americas, where crypto adoption is on the rise 1.
Tether's growth extends beyond its financial success. The company reported $2.5 billion in revenue for Q3 2023, with yearly gains reaching $7.7 million as of October 31. Additionally, USDT wallet count has surpassed 109 million, indicating strong user adoption 2.
As Tether continues to innovate and expand, its move into AI and diversification into various markets position it as a significant player not just in the cryptocurrency space, but in the broader technology and financial sectors as well.
Reference
Tether, the leading stablecoin issuer, is expanding into AI with a new suite of products called Tether Data. The company's CEO has teased an AI-powered Bitcoin wallet assistant and other AI applications, signaling a significant move into the AI space.
2 Sources
2 Sources
Tether, the company behind the USDT stablecoin, announces Tether AI, an open-source artificial intelligence platform that will support Bitcoin and USDT payments. The platform aims to merge cryptocurrency with AI technology through decentralized applications.
5 Sources
5 Sources
Tether introduces an open-source Wallet Development Kit (WDK) for creating self-custody wallets, designed for both human users and AI entities. The toolkit aims to provide financial autonomy and supports Bitcoin and USDT across various platforms.
2 Sources
2 Sources
Experts predict major shifts in the cryptocurrency industry for 2025, including the rise of AI-driven projects, expansion of tokenization, and potential Bitcoin price surge, amid regulatory changes and increased institutional adoption.
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Rezolve AI partners with Tether to integrate cryptocurrency payments into everyday shopping, potentially transforming the retail landscape. This collaboration comes as the Trump Administration designates cryptocurrency as a national priority.
3 Sources
3 Sources
