As a seasoned crypto investor with a keen eye for emerging trends and a knack for spotting opportunities, I find Tether’s latest strategic move intriguing. Paolo Ardoino’s vision to challenge tech giants like Microsoft and Amazon through investments in decentralized AI and brain-computer interfaces is nothing short of audacious.
According to Tether CEO, Paolo Ardoino, hints suggest potential investments will be made in advanced technologies like AI that operates without central control and brain-computer interface systems, positioning themselves as competitors for tech industry giants.
It appears that Tether (USDT), the top stablecoin issuer, is eyeing chances in the AI competition by putting money into decentralized technology and brain-computer interface projects. This move aims to contest the leadership of tech titans such as Microsoft and Amazon.
In a recent interview with WIRED, Tether chief executive Paolo Ardoino discussed the firm’s evolving strategy, which now includes a big push into venture capital. Ardoino disclosed that Tether’s substantial profits, amounting to billions of dollars over the past two years due to rising interest rates, have prompted the firm to explore new investment opportunities.
“Over the past 24 months, Tether has made approximately $11.9 billion in earnings. Rather than distributing all of this profit to shareholders for immediate happiness, some of it is being set aside to bolster the stability of the digital coin and the remainder is being kept within our investment division.”
Paolo Ardoino
Ardoino highlighted that Tether’s investment strategies are not only based on conventional financial indicators but are deeply rooted in the philosophies of decentralization and the initial ideology of Bitcoin – financial freedom. He further proposed that the concept of decentralization could provide significant autonomy, particularly in the field of AI, which he referred to as being “heavily influenced by politics.”
“AI is increasingly becoming a political tool, and we think it’s crucial to have an impartial actor involved, distinct from traditional tech companies such as Amazon, Microsoft, and Google. This independent player could play a vital role.”
Paolo Ardoino
Tether plans to go beyond crypto-only
Tether’s investment strategy won’t mirror the conventional venture capital approach that targets high-risk, high-reward scenarios, as stated by Ardoino. Instead, he emphasized that the company is keen on projects that align with their concept of interdependence. Moreover, he noted that more than 90% of Tether’s profits will be channeled back into ventures that embody these principles, rather than being paid out as dividends.
In March, Tether unveiled a new artificial intelligence (AI) sector. According to Ardoino, this division focuses on creating open-source AI models and working with other companies to incorporate these models into products aimed at tackling real-world issues. This endeavor is an extension of a larger plan that started in 2023 when Tether made an investment in Northern Data, a publicly-traded German company. Initially focused on cryptocurrency mining, Northern Data now offers computational resources for AI-driven data analysis.
As a crypto investor, I can assure you that my concerns about investment risks are addressed by Tether’s meticulous due diligence process. They don’t just invest; they actively support and, when necessary, manage the companies they back, demonstrating their strong commitment to their investments.
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2024-08-12 14:24