Summary
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Tether AI Announced: Tether CEO Paolo Ardoino revealed plans for “Tether AI,” described as a new, open-source artificial intelligence runtime environment currently under development.
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Key Features: The proposed AI system is designed to run on any hardware, integrate crypto payments (USDT, Bitcoin) via Tether’s Wallet Development Kit (WDK), and operate without central points of failure or API keys.
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Decentralized Vision: The ultimate goal, according to Ardoino, is for Tether AI technology to facilitate an “unstoppable peer-to-peer network” potentially consisting of billions of AI agents.
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Strategic Context: This initiative aligns with the growing intersection of AI and cryptocurrency and builds on Tether’s prior investments and activities within the artificial intelligence space, including its financial involvement with Northern Data.
Introducing Tether AI
Tether, the company responsible for issuing the widely used USDT stablecoin, is venturing further into technology development with the upcoming launch of Tether AI, as announced by CEO Paolo Ardoino.
Ardoino revealed that the firm is developing what he termed an open-source AI runtime environment.
Core Features and Functionality
This new system is designed for broad compatibility, intended to operate across diverse hardware platforms and devices.
A key feature will be its integration with cryptocurrency payments, facilitated through Tether’s Wallet Development Kit (WDK).
Tether currently issues USDT, the stablecoin with the largest market capitalization, valued at approximately $149 billion.
Vision for a Decentralized AI Network
In a social media post on X, Ardoino elaborated on the project’s goals, stating Tether AI is nearing release.
He described the platform as: “A fully open-source AI runtime, capable of adapting and evolving on any hardware and device, no API keys, no central point of failure, fully modular and composable, WDK-infused to enable USDT and Bitcoin payments.”
Ardoino projected that this technology “will enable an unstoppable peer-to-peer network of billions of AI agents.”
AI and Crypto Sector Trends
This initiative arrives as artificial intelligence becomes an increasingly prominent topic within the cryptocurrency sector.
AI agents, often driven by large language models (LLMs), are finding applications in facilitating crypto transactions and utilizing natural language processing for analyzing market trends and real-time data.
Potential Ecosystem Integrations
A dedicated website for the project, Tether.ai, indicates that the AI product might also incorporate integrations with other Tether ventures, potentially including its peer-to-peer communication application, Keet, and various data tools.
Tether’s Previous AI Ventures
Tether has been progressively increasing its engagement with artificial intelligence over the last couple of years.
Previous steps include an investment of an unspecified sum into German data center operator Northern Data in September 2023.
As reported by The Block, Tether subsequently increased its debt financing arrangement with Northern Data to $610 million later that year, among other AI-related initiatives.
Also Read: Tether Pursues Big Four Audit Citing Stricter Stablecoin Regulations
Tether, the dominant stablecoin in the cryptocurrency market, is in talks with a member of the Big Four accounting firms for a third-party audit, a move CEO Paolo Ardoino highlights as a top priority. Despite CEO assurances, skepticism persists in the crypto community due to Tether’s history of unfulfilled audit promises. A credible audit is crucial for Tether’s future in the regulated U.S. market, potentially impacting its ability to operate and partner with U.S. entities, particularly given proposed legislation like the GENIUS Act requiring robust audits and reserve transparency. Ardoino believes that the high-level political endorsement of former President Donald Trump might encourage prominent auditing firms to give greater weight to Tether’s audit request. Despite Tether’s assurances regarding audits in the past, critics argue that these…[Read More]
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