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The CEO of Tether calls for the end of cloud storage and announces a local password manager after a record data leak

The CEO of Tether, Paolo Ardoino, says that the era of storing passwords in the cloud must come to an end, and announced that his company will soon launch PearPass, a fully local and open-source password manager that completely avoids cloud storage.

"The cloud has failed us. Once again," referencing what experts are calling the largest data leak in history. This week, more than 16 billion passwords linked to platforms like Apple, Google, and Facebook were leaked, and security researchers warn that this leak could be a roadmap for widespread cyberattacks.

PearPass is designed to completely avoid those risks. The tool will store all passwords and encryption keys on the user's device, eliminating exposure to centralized servers. "No cloud. No servers. No leaks. Ever."