Tether Ventures into AI Realm with Focus on Transparency and Privacy

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The blockchain company Tether, known for its USDT cryptocurrency, has announced its expansion into the realm of artificial intelligence. The company revealed its intentions on Tuesday, stating that this move is aimed at enhancing the accessibility and efficiency of AI technologies. Tether’s approach to AI will emphasize the development of open-source, multimodal AI models and the establishment of new industry standards.

Tether’s Strategic Expansion into AI

Paolo Ardoino, the CEO of Tether, expressed his enthusiasm about the potential of AI to transform various aspects of our lives, both in the physical and digital domains. He stated, “Artificial intelligence stands poised to revolutionize nearly every facet of our lives, both in the real and digital worlds.” Tether’s recent investment in Northern Data Group, a firm renowned for its robust and high-performance technologies, aligns with the company’s vision for AI.

In November, Tether invested a significant sum of $622.6 million in Northern Data Group, a Frankfurt-based technology company specializing in generative AI cloud platforms, Bitcoin mining operations, and data center infrastructure. This investment underscores Tether’s commitment to advancing AI technology.

Tether’s Commitment to AI Innovation and Transparency

As part of its AI initiative, Tether has announced new job openings within its Tether Data division, including positions for an AI Engineer and Head of AI Research and Development. These roles are primarily remote, with Tether’s office locations spanning across major cities such as Paris, Madrid, London, and Milan.

Tether’s focus on AI also aims to address concerns over the monopolization of AI technologies by large tech corporations. The company is stepping forward to advocate for transparency and privacy in the development of AI models.

Despite facing scrutiny last year for failing to disclose its connections to Chinese companies, Tether has continued to grow and innovate. Originally launched as “Realcoin” in late 2014, Tether Limited rebranded its cryptocurrency to USDT. USDT is currently the third-largest cryptocurrency by market capitalization, trailing behind Bitcoin and Ethereum. Unlike its counterparts, USDT is a stablecoin, designed to maintain a stable value pegged to the U.S. dollar, currently trading at $0.99 according to CoinGecko.

#tether is hiring a head of AI R&D and AI engineers.
Mind-blowing flow of projects and investments in the pipeline.

Tether has recently secured an important investment into one of the biggest AI infrastructure providers in the world… so access to AI compute (GPUs, …) won't… https://t.co/AhIJMYmXaI

— Paolo Ardoino 🍐 (@paoloardoino) March 26, 2024

The intersection between AI and cryptocurrency is becoming increasingly prominent as AI continues to disrupt various business sectors. Companies like Nvidia have successfully navigated both industries, achieving record profits and stock prices. Although USDT is not specifically focused on AI, the broader cryptocurrency market, including AI tokens, has experienced significant growth since the launch of Bitcoin ETFs in January. Tokens such as Fetch AI’s FET, SingularityNET’s AGIX, and Ocean Protocol’s OCEAN have all seen notable increases in their trading values over the past week.

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