Tether CEO Paolo Ardoino shared a new preview of the ‘QVAC Translate’ app, the latest step in the company’s plan to build a decentralized AI ecosystem.
By Zoran Spirkovski
Editor Kirsten Thijssen
Updated
3 mins read
Tether CEO Paolo Ardoino has shared an updated look on X at the “QVAC Translate” application. He posted about the latest development in the company’s ongoing push into artificial intelligence. The preview, posted on Sept. 27, follows a series of updates on the QVAC ecosystem, which was first announced in May and also includes AI-powered health and keyboard applications.
The broader QVAC initiative is centered on the principle of “Local AI”. That is a concept that the company says was inspired by an Isaac Asimov science fiction story, “The Last Question.” QVAC’s architecture is designed for its tools to operate directly on a user’s local device. This approach is intended to ensure user data remains private and under the control of its creator.
QVAC Translate (private beta design)@QVAC_tether pic.twitter.com/qDw6czlPAQ
— Paolo Ardoino 🤖 (@paoloardoino) September 27, 2025
The QVAC ecosystem is built upon a foundation of tools for developers and a suite of software for consumers. At its core is the QVAC SDK, a toolkit that enables creators to build their own decentralized AI agents for the platform’s peer-to-peer network. Technical progress has been steady, with the project demonstrating high-speed local inference on mobile devices and support for AI models like LLAMA 3.2. This technology powers the user-facing applications, including the recently previewed QVAC Translate and a wellness monitor called QVAC Health.
Tether’s strategy includes a significant expansion into physical hardware, demonstrating the scope of its ambition. As Coinspeaker reported on July 25, CEO Paolo Ardoino announced the development of the QVAC Keyboard, a device with integrated local and private AI. Features are expected to include on-device text prediction and secure data encryption. This marks a tangible step toward the company’s goal of embedding its privacy-focused AI into everyday consumer products.
This major push into AI can be seen as a direct strategic response to an increasingly crowded stablecoin market. The competition is no longer limited to other crypto firms. Major tech companies are now entering the space. Cloudflare’s new NET Dollar stablecoin is designed specifically for AI agent transactions. By building the QVAC ecosystem, Tether is not just diversifying its business but also creating a dedicated, privacy-focused environment where its own stablecoin can become the native currency for a new generation of AI applications.
These strategic initiatives are being launched from a position of significant market dominance. Data from industry analytics platform RWA.xyz shows that Tether Holdings commands nearly 60% of the stablecoin market with a total market cap exceeding $171 billion. This leadership position underscores the motivation behind its expansion into AI.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.
The US Department of Justice has recovered $40,000 in cryptocurrency out of the $250,300 stolen in a Trump-Vance inaugural impersonation scam.
By Rose Nnamdi
Editor Hamza Tariq
Updated
3 mins read
U.S. federal prosecutors have recovered $40,300 in cryptocurrency connected to a scam targeting the Trump-Vance inaugural committee.
The scammer executed an email phishing scheme, falsely claiming to represent the committee and convincing a donor to transfer crypto assets to a wallet they believed was officially affiliated.
On July 3, U.S. Attorney Jeanine Ferris Pirro announced that her office had initiated legal action to seize cryptocurrency obtained through a Business Email Compromise (BEC) scheme. The perpetrator persuaded the victim to transfer $250,300 in cryptocurrency to their wallet and then attempted to launder the funds by routing them through multiple wallets.
In a press release from the Department of Justice (DOJ), authorities revealed that the scammer set up a fake email address impersonating Steve Witkoff, a co-chair of the inaugural committee.
On December 24, 2024, the scammer sent a deceptive email from a look-alike domain, t47lnaugural.com, which cleverly replaced a lowercase “l” with an “i” to mislead the recipient. The unsuspecting victim transferred cryptocurrency into the scammer’s wallet two days later.
The impersonator, who is believed to be a scammer based in Nigeria, funneled the cryptocurrency from “58c52 cryptowallet” to multiple wallets in an attempt to obscure their origin.
FBI agents were notified of the scam and successfully recovered approximately $40,300 from the fraudster. Steven J. Jensen, Assistant Director in Charge of the FBI Washington Field Office, noted that “impersonation scams take many forms and cost Americans billions in losses each year.”
He further stated that scammers rely on “subtle differences to deceive you and gain your trust. Never send money, gift cards, cryptocurrency, or other assets to people you do not know personally or have only interacted with online or over the phone.”
The DOJ has given credit to Tether for their cooperation in making the recovery possible. Pirro advised, “All donors should double and triple check that they are sending cryptocurrency to their intended recipient. It can be extremely difficult for law enforcement to recoup lost funds due to the extremely complex nature of the blockchain.”
The U.S. attorney further stated that they are partnering with law enforcement agencies to track criminals and compensate victims.
Recently, a U.S. court rejected Tether’s bid to dismiss a lawsuit filed by Celsius Network, ruling that Celsius can proceed with its legal action against the company.
Crypto scams are on the rise, with TRM Labs reporting over $2.1 billion stolen in 75+ hacks during the first half of 2025. The Bybit hack alone accounted for $1.5 billion, nearly 70% of total losses.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Rose is a crypto content writer with a strong background in finance and tech. She simplifies complex blockchain and cryptocurrency topics, offering insightful articles and market analysis to help readers navigate the evolving crypto landscape.
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