Tether says it made $13.7 billion in profits. Its CEO plans to invest half in decentralized AI and a 'very tall tower'

Full Article

Tether has reported an impressive profit of $13.7 billion, with CEO Paolo Ardoino announcing plans to invest half of this amount into decentralized AI and a significant infrastructure project, a 70-floor tower in El Salvador. The company emphasizes the importance of making Bitcoin optional rather than mandatory, advocating for education and infrastructure in the crypto space. Ardoino also highlights the growing commitment of countries like El Salvador to Bitcoin, despite ongoing negotiations with the IMF.

The U.S. market presents a complex landscape for Tether, with no immediate plans to expand there due to existing competition and regulatory uncertainties. However, Ardoino acknowledges the potential for U.S. regulations to influence global crypto adoption positively. Tether's focus on real-world applications of AI and blockchain technology aims to empower individuals and enhance resilience in various sectors.

Key AI Highlights in this Article

• Tether plans to invest in decentralized AI and infrastructure projects.

• The U.S. regulatory landscape is crucial for global crypto adoption.

Key AI Terms Mentioned in this Article

Decentralized AI

Decentralized AI refers to AI systems that operate without a central authority, promoting user control over data.

AI SDK

An AI SDK is a software development kit that enables developers to create applications with privacy-oriented AI features.

Companies Mentioned in this Article

Tether

Tether is a cryptocurrency company that focuses on stablecoins and aims to integrate AI into its operations.

Bitfinex

Bitfinex is a cryptocurrency exchange that supports Tether and is involved in various blockchain and AI initiatives.

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