Tether refutes blockchain allegations and intensifies its focus on AI innovation

The CEO of Tether stated that the company recognizes the importance of interoperability and partnerships with a variety of networks in order to facilitate the expansion of USDT.

Paolo Ardoino, the CEO of Tether, has once again denied allegations that the company is in the process of developing its blockchain.

Ardoino addressed X on February 5 to clarify that Tether has no plans to establish a blockchain, describing the rumors as unfounded. His statement was in response to the comments of crypto influencer Ansem, who was one of the numerous industry voices that speculated whether the stablecoin titan was developing a proprietary network.

Ardoino has been required to rectify the record on numerous occasions. He explicitly stated in November 2024 that Tether has no intention of centralizing its ecosystem through a dedicated blockchain. As an alternative, the organization continues to prioritize the expansion of USDT’s integration across numerous networks to guarantee transactions that are both seamless and widely accessible.

Ardoino also underscored Tether’s collaborative approach, emphasizing that the company places a higher value on network diversity and partnerships than on exclusive control. This emphasizes interoperability over isolation.

Tether is the most significant issuer of USD-pegged stablecoins, with USDT having a market capitalization of $141 billion. Ethereum, Tron, Solana, Ton, Aptos, Avalanche, Near, and Algorand are among the ten blockchains on which the asset is operational. It is widespread adoption.

USDT is the dominant stablecoin in the market, with USDT accounting for 63.85% of the sector’s total value across 210 recognized stablecoins, as per DefiLlama Data.

Tether’s attention

Tether is prioritizing other advancements, notably artificial intelligence, as some crypto firms prepare to launch their blockchains.

Tether is in the process of creating AI-powered applications, such as voice assistants, real-time translation tools, and a Bitcoin wallet assistant. The objective of these innovations is to improve the user experience while simultaneously prioritizing privacy and security.

Ardoino disclosed that Tether AI applications would operate directly on user devices, guaranteeing complete privacy and self-custodial control over data and financial assets, despite the availability of limited details.

Tether has achieved unprecedented financial success in addition to its technological innovations. The company reported a staggering $13 billion in profits for 2024 on January 31.

Avichal Garg, the co-founder of Electric Capital, observed that these figures render the stablecoin issuer the most profitable company globally per employee.

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