Tether CEO Paolo Ardoino has reiterated that the company has no plans to develop its own blockchain, refuting speculation circulating in the crypto community. In a statement on February 5, 2025, Ardoino addressed comments from crypto influencer Ansem, who had suggested Tether was working on a proprietary network. This isn't the first time Ardoino has dismissed such claims, having previously stated in November 2024 that Tether is committed to expanding USDT's integration across multiple networks, prioritizing interoperability and accessibility over centralized control.
Tether, the largest issuer of USD-pegged stablecoins, currently holds a market capitalization of $141 billion and operates on over ten blockchains, including Ethereum, Tron, Solana, and more. According to DefiLlama data, USDT dominates the stablecoin market, accounting for 63.85% of the sector's total value. While some crypto firms are launching their own 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. Ardoino has revealed that Tether AI applications will 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 January 31, 2025, the company announced a staggering $13 billion in profits for 2024. Avichal Garg, the co-founder of Electric Capital, noted that these numbers make Tether the most profitable company in the world per employee.