Tech Turmoil: Tether's Trump Connection, AI Bubble Fears, and Market Volatility

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7d ago 2:41

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Good morning from OWITH.ai: the podcast that gives you only what's important to hear in AI and tech world.Tether, a stablecoin giant, has hired top Trump crypto advisor Bo Hines in an effort to distance itself from past controversies. Despite being a successful company with a $167 billion market cap, Tether has faced accusations of opacity and compliance issues. With the hire of Hines, who previously led Trump's crypto agenda, Tether is aiming to expand in the U.S. and launch a new stablecoin compliant with regulations. The company's strategic moves, including partnerships and high-profile hires, are seen as efforts to outshine competitors and address past criticisms.On August 20, 2025, major tech stocks experienced a significant drop, with the Nasdaq falling 1.4% and companies like Nvidia, Palantir, and AMD seeing decreases. The market volatility was attributed to factors such as the recent MIT report on generative AI investments and comments from OpenAI CEO Sam Altman about a potential AI bubble. Despite concerns about a bubble, Wall Street analysts remain confident in the long-term potential of artificial intelligence. In other tech news, Meta AI is reportedly downsizing its AI division and considering using third-party AI models for its products. Additionally, a study found that many newly public companies lack gender diversity in their boards and executive teams, with the majority having only one or no women in these positions. This lack of diversity contrasts with the expectations of investors for companies to have diverse leadership teams. Other tech news includes the U.S. demanding an equity stake in Intel, VW facing subscription drama, and Tether hiring a former Trump official for stablecoin expansion.CEOs are discussing the potential AI bubble, with some expressing concerns about overexcitement in the market. Sam Altman believes investors are too enthusiastic about AI but also plans to invest trillions in data centers. The current tech selloff is fueled by fears of an AI bubble. While the dot-com bubble involved many startups that ultimately failed, this time wealth is concentrated in a few major companies like Alphabet, Amazon, and Tesla. Bursting bubbles historically have negative impacts on businesses, leading to lawsuits and government intervention. Concerns are growing about the dominance of tech giants and their impact on society. Meanwhile, President Trump is willing to provide Ukraine with air support but not boots on the ground. Elon Musk's plans for a new political party are on hold. The bond market is concerned about "fiscal dominance" and the potential effects of government pressure on interest rates. Overall, the global tech selloff and concerns about AI's impact on jobs and the economy are dominating current discussions among CEOs and investors.

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