Tether, Stablecoin Giant, Seeks AI Filmmakers in Ambitious Expansion
Tether Holdings, the issuer of the world's largest stablecoin, USDT, is embarking on an unexpected hiring spree. The company is actively seeking AI filmmakers across the globe, signaling a significant push into the realm of artificial intelligence and content creation. This move is part of a broader strategic expansion that has seen Tether diversify its interests beyond its core stablecoin business.
From Stablecoins to Cinema: Tether's Expanding Universe
Tether's USDT token is a cornerstone of the crypto market, facilitating trading and providing a haven from volatility. With approximately $138 billion in circulation, USDT commands a dominant 67% share of the total stablecoin market. This dominance has translated into substantial profits for Tether, with the company on track to potentially reach over $10 billion in profit in 2024, according to CEO Paolo Ardoino.
However, Tether's ambitions extend beyond stablecoins. The company has recently invested in diverse ventures, including tokenization in Turkey's boron market, commodity lending, and a $775 million investment in the video platform Rumble. Now, AI appears to be the next frontier.
Building an AI-Powered Content Team
"AI-based roles, particularly in filmmaking, bring unique advantages that align with Tether's vision of innovation and efficiency," Paolo Ardoino explained. He emphasized that AI is a "significant focus area" for the company. While declining to elaborate on specific projects, Ardoino confirmed that Tether has already hired 30 individuals for its AI platform, focusing on design and development.
The company's online job postings reveal plans to recruit AI filmmakers in the Asia-Pacific region, Europe, Brazil, Argentina, and Colombia. This global search reflects Tether's ambitious expansion plans, with the company aiming to double its total headcount to 200 by mid-2025.
Navigating Challenges and Scrutiny
Tether's foray into AI and filmmaking comes amidst ongoing scrutiny. The company's tokens have been linked to illicit activities, although Tether maintains that it cooperates with authorities to freeze tokens used for illegal purposes. More recently, several European crypto exchanges have announced plans to delist USDT in response to new EU regulations.
What's Next for Tether?
Tether's pivot towards AI and content creation, highlighted by its search for AI filmmakers, represents a fascinating evolution for the stablecoin issuer. This strategic shift suggests that Tether is seeking to leverage its substantial profits and market position to become a more diversified player in the rapidly evolving digital landscape. Only time will tell what the fruits of this new venture will be, and how they will impact the broader crypto ecosystem.