bitcoin
bitcoin

$72083.89 USD 

3.17%

ethereum
ethereum

$2612.20 USD 

1.10%

tether
tether

$0.999826 USD 

0.05%

bnb
bnb

$600.18 USD 

-0.41%

solana
solana

$177.85 USD 

0.11%

usd-coin
usd-coin

$0.999993 USD 

0.01%

xrp
xrp

$0.523892 USD 

0.83%

dogecoin
dogecoin

$0.173615 USD 

3.93%

tron
tron

$0.166204 USD 

1.19%

toncoin
toncoin

$5.01 USD 

-0.51%

cardano
cardano

$0.357038 USD 

3.32%

shiba-inu
shiba-inu

$0.000019 USD 

2.72%

avalanche
avalanche

$26.53 USD 

0.84%

bitcoin-cash
bitcoin-cash

$380.41 USD 

4.46%

chainlink
chainlink

$11.71 USD 

4.48%

Cryptocurrency News Articles

Tether Promises Transparency, Unveils Plan to Introduce Modular SDK for AI Deployment of Large Mainframe and Home Systems

Oct 28, 2024 at 12:27 pm

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.

Tether Promises Transparency, Unveils Plan to Introduce Modular SDK for AI Deployment of Large Mainframe and Home Systems

Stablecoin issuer Tether seems to be on a mission to diversify its assets and expand its reach beyond the crypto sector. At a recent Lugano Plan B event, Tether CEO Paolo Ardoino dropped some hints about how USDT is backed.

According to Ardoino, USDT is backed not only by Bitcoin but also by gold and U.S. treasury bonds. Specifically, he mentioned that Tether holds 82,454 BTC and 42.3 tons of gold in its reserves.

“Since I see a lot of confusion in this thread, let me clarify that:

– Tether has ~100B in US treasuries.

– Plus it has 82k+ BTC and 48T+ of gold.

This comes with a risk diversification strategy, 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.

But wait, there’s more! Tether is also setting its sights on the AI scene with an ambitious project. The stablecoin giant is planning to introduce a modular SDK for deploying large language models (LLMs) like Marian and Llama to run locally and interact over a P2P network.

In essence, this move aims to create a ready-made kit for developing and customizing AI-based applications that will run on your device, not in the cloud like OpenAI and others, while sharing data for customization and other purposes will be done over a P2P network preserving user privacy.

“Yesterday at @LuganoPlanB I presented a preview of Tether’s Local AI development kit, privacy focused, powered by peer-to-peer technology 🍐🍐

Write the code once, and run everywhere, from a 40$ phone, to a flagship smartphone, from a laptop to a mainframe with many H100, from a… pic.twitter.com/L0Uz2P7BKg

This initiative aligns with Tether’s goal of becoming a major infrastructure player in the Web3 space. By providing an easy-to-use and privacy-centric tool for deploying LLMs, Tether could potentially foster a new wave of decentralized AI applications.

Moreover, Tether’s venture into the AI domain seems to be part of a broader strategy to invest in promising technologies beyond the crypto sector. Notably, the stablecoin issuer is also exploring opportunities in the entertainment and gaming industries.

Overall, Tether’s moves to diversify assets for reserves and spearhead initiatives in emerging tech fields like AI suggest that the stablecoin behemoth is adapting to the evolving landscape and aiming to secure a strong foothold in the Web3 world.

News source:www.bitcoinsensus.com

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Other articles published on Oct 30, 2024