Tether wants to invest more than a billion US dollars

According to CEO Paolo Ardoino, the largest issuer of stablecoins Tether plans to invest more than a billion dollars over the next 12 months in projects in artificial intelligence, financial infrastructure and biotech.

Bloomberg reports on this and quotes Tether's CEO: "It's about investing in technologies that unbundle traditional finance."

"Less dependence on large technology companies such as Google, Amazon and Microsoft" is the goal for Ardoino. In the past two years, Tether has already invested nearly US$2 billion in these areas.

Tether's USDT reserves are primarily invested in US government bonds, which yield several billion US dollars a year in the current high interest rate environment. While the ECB recently cut key interest rates, the Federal Reserve has not yet done so.

"We can offer AI computing to all the companies we have invested in," Ardoino continued. Tether recently invested more than a billion US dollars in AI, for example by supporting data center operator Northern Data Group.

Unlike traditional venture capitalists, however, Tether does not specifically look for companies that are likely to meet certain profitability targets in the next one to two years.