Tether Boosts Reserves With Over 82,000 BTC for USDT Stablecoin - CoinStats
Tether CEO Paolo Ardoino recently revealed that Tether holds a significant amount of Bitcoin and gold as reserve assets for its USDT stablecoin. This disclosure comes as Tether continues to make strides in developing an AI software development kit (SDK).
Increasing Reserves
During the Lugano Plan B event, UQUID CEO Tran Hung shared insights from Ardoino's presentation, highlighting that Tether's reserves now include 82,454 BTC and 42.3 tons of gold. Ardoino confirmed this information in a post on X, stating that Tether also holds approximately $100 billion in US treasuries.
This marks a notable increase from the second-quarter report, where Tether's Bitcoin reserves were reported to be around 80,000 BTC. Public data indicates that Tether's Bitcoin wallet currently holds 75,354 BTC.
Tether has been steadily growing its Bitcoin holdings through quarterly purchases as part of its diversification strategy. In addition to Bitcoin, Tether's reserve assets encompass significant holdings in gold, cash equivalents, and short-term deposits.
AI Software Development Kit
Aside from reserve disclosures, Ardoino also unveiled Tether's upcoming AI software development kit (SDK), which is designed for local, privacy-focused applications leveraging peer-to-peer technology. The SDK enables developers to write code once and deploy it across various devices, from budget phones to smart home systems.
The modular nature of the SDK supports different models like Marian and Llama, utilizing P2P structures for secure data handling. Tether intends to make the SDK open-source after completing final testing, making it accessible to a wider audience.
For more information, check out What Is a Stablecoin? A Beginner’s Guide and How to Buy and Store the Different Types of Tether.
