Tether Boosts Reserves With Over 82,000 BTC for USDT Stability
2024-10-28

Tether CEO Paolo Ardoino recently disclosed that the company holds a significant amount of Bitcoin and gold as reserve assets for its USDT stablecoin.
This revelation comes as Tether is also advancing work on an AI software development kit (SDK).
Tether’s USDT Bitcoin and Gold 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,” Ardoino stated.
This number marks a strong upward trend for the company. In its second-quarter attestation report, Ardoino stated that the firm’s Bitcoin reserves were around 80,000 BTC. However, Bitinfo charts data shows that Tether’s publicly available Bitcoin wallet had a balance of 75,354 BTC as of press time.
Over the last year, Tether has steadily increased its Bitcoin holdings through quarterly purchases as part of a diversification strategy. Meanwhile, the company’s reserve assets include not only Bitcoin but also significant holdings in gold, cash equivalents, and short-term deposits.
AI Development Initiative
In addition to reserve disclosures, Ardoino also previewed Tether’s forthcoming AI software development kit (SDK), designed for local, privacy-focused applications powered by peer-to-peer technology. The SDK allows developers to write code once and deploy it across diverse devices, from budget phones to advanced mainframes and even smart home systems.
The SDK is also modular, supporting various models, including Marian and Llama, and uses P2P structures to store weights and fine-tuning data securely. Ardoino noted that Tether plans to open-source the SDK once it undergoes final testing, allowing broader access to this innovative tool.
“Terher’s AI SDK is extremely modular, it uses supports any model (Marian, Llama, …) and loads/stores weights and fine-tuning data in P2P data structures. Open source once battle tested,” Ardoino stated.
This initiative aligns with Tether’s latest efforts to embrace the AI revolution. The company’s new AI division aims to create open-source, multimodal AI models that could redefine industry standards. The stablecoin company will build innovative models and explore partnerships that integrate AI solutions into market-ready products, while advancing the scope of open AI technology