Stablecoins Will Conquer Wall Street!

This is an interview with Paolo Ardoino, the CEO of Tether, who discusses a wide range of topics, including Tether’s new US strategy, its financial performance, and investments in artificial intelligence, gold, and brain-computer interfaces.

Here is a summary of the key discussion points:

Company Philosophy: Ardoino describes Tether as a “once-in-a-century company” that uses its immense profits to constantly reinvent itself and innovate in new fields beyond finance. He states that their mission is to build technology that brings financial freedom and improves society, all while ensuring that the technology remains private and pro-human.

Tether’s US Strategy: Ardoino explains that Tether is entering the US market following the “Genius Act,” which has created a regulatory framework for stablecoins. He highlights that Tether is a strong ally for the US, holding over $127 billion in US Treasuries, which is more than countries like South Korea and Germany. He also notes that Tether has brought the US dollar to over half a billion people in emerging markets, and they now plan to launch a new, domestic stablecoin for the US market.

Financial Performance and Investments: Ardoino mentions that Tether has been highly profitable, with over $13 billion in net income last year and significant profits in the first half of the year. These profits are being used to fund innovation in several key areas.

Artificial Intelligence (AI): Tether is developing an AI platform called “Cuack.” The goal is to create a local-first AI inference and fine-tuning platform that can run on various devices, from smartphones to embedded devices. This approach emphasizes data privacy and aims to create a decentralized, peer-to-peer AI ecosystem where models can run locally and collaborate with one another.

Gold: Ardoino clarifies Tether’s interest in gold, explaining that they view it as a hedge against fiat currencies rather than a competitor to Bitcoin. He suggests that Bitcoiners should consider gold as a diversification option, especially during market volatility. He believes gold could play a role in a potential financial reset due to its long history as a store of value.

Brain-Computer Interface (BCI): Tether has invested in Black Neurotech, a company developing advanced BCI technology. The aim is to create a pro-human technology that helps people communicate more effectively with digital systems and potentially hedge against an AI takeover. Ardoino emphasizes the importance of keeping this technology private and decentralized, with data processed locally on the user’s device.

Macroeconomic Outlook: Ardoino discusses the global trend of “localization” and fragmentation, where countries prioritize their own interests over globalization. He believes this shift will create more friction and economic issues for poorer countries, making Tether’s role in providing access to the US dollar even more critical.