- UQUID CEO Tran Hung revealed details of Paolo Ardoino’s presentation at Lugano Plan B
- Tether CEO Paolo Ardoino reminds us that Tether is backed by ~100B US Treasuries, 82K+ BTC, and 48T+ gold
- Also, Tether is investing in the future, and talks about an upcoming AI SDK for larger mainframe and home systems
Tether seems to want to right the wrongs of the past, when many had questions about its real reserves. Now, CEO Paolo Ardoino reminds us that USDT is backed not only by Bitcoin but also by gold and treasury bonds.
Also, Tether is looking to the future and is investing beyond the crypto sector, promising to introduce a modular SDK for AI deployment of large mainframe and home systems.
More on Tether Reserves
Recently, there was a symbolic Lugano Plan B event at which Tether CEO Paolo Ardoino made some statements to avoid confusion about how secure USDT is. In particular, he confirmed a post by UQUID CEO Tran Hung in which he claimed that Tether now holds 82,454 BTC and 42.3 tons of gold as part of its reserves.
All of this comes with a risk diversification strategy, and accumulating Bitcoin through quarterly purchases, and in the second quarter attestation report, Ardoino stated that the firm’s reserves are around 80,000 BTC. However, it’s also worth noting that the figure is different according to Bitinfo, and stands at 75,354.08 BTC.
Tether and AI Investments
What is also notable is that Tether apparently strives to be an even more important infrastructure player by directing its efforts into the AI sector.
Specifically, Tether is going to release a modular SDK for deploying LLMs like Marian, and Llama to run locally and interact over a P2P network.
In other words, the goal is to provide a ready-made kit for developing and customizing AI-based applications that will run on your device, not in the cloud OpenAI and others, while sharing data for customization and other things will be done over a P2P network preserving user privacy.
Conclusion
Tether’s initiatives to diversify assets for reserves in the form of Bitcoin, gold, and US bonds look like not only a work in progress but also a very thorough approach that takes into account various ups and downs scenarios.
Also their initiatives on investing in one of the key technologies of our time AI also looks future-proof, which may make it clear that Tether is here for the long haul and maybe not only in the crypto sector.
Let’s keep a close eye on its likely growing importance in the industry, stay tuned.
