Tether CEO Paolo Ardoino has once again refuted claims that the company is developing its blockchain.
On Feb. 5, Ardoino took to X to clarify that Tether has no intention of launching a blockchain, calling the speculation baseless. His statement addressed comments from crypto influencer Ansem, who was one of the many industry voices speculating whether the stablecoin giant was working on a proprietary network.
This is not the first time Ardoino has had to set the record straight. Back in November 2024, he made it clear that Tether has no interest in centralizing its ecosystem through a dedicated blockchain. Instead, the company remains committed to expanding USDT’s integration across multiple networks, ensuring broader accessibility and seamless transactions.
Ardoino also emphasized Tether’s collaborative approach, pointing out that the company prioritizes partnerships and network diversity over exclusive control. This focuses on interoperability rather than isolation.
Tether is the largest issuer of USD-pegged stablecoins, with USDT holding a market capitalization of $141 billion. The asset is widely adopted and operates across over ten blockchains, including Ethereum, Tron, Solana, Ton, Aptos, Avalanche, Near, and Algorand.
According to DefiLlama data, USDT dominates the stablecoin market, accounting for 63.85% of the sector’s total value across 210 recognized stablecoins.
Tether’s focus
While some crypto firms are launching their blockchains, Tether is focusing on other innovations, particularly artificial intelligence.
Tether is developing AI-driven applications, including a Bitcoin wallet assistant, real-time translation tools, and voice assistants. These innovations aim to enhance user experience while maintaining a strong focus on privacy and security.
Although details remain limited, Ardoino revealed that Tether AI applications would operate directly on user devices, ensuring full privacy and self-custodial control over data and financial assets.
Beyond its technological advancements, Tether has reported record-breaking financial performance. On Jan. 31, the company announced a staggering $13 billion in profits for 2024.
Avichal Garg, the co-founder of Electric Capital, noted that these numbers make the stablecoin issuer the most profitable company in the world per employee.
