Tether CEO Rejects S&P Downgrade, Defends USDT’s Strength
Tether CEO Paolo Ardoino has dismissed S&P Global's recent downgrade of USDT (Tether), calling the agency's assessment flawed and outdated. The critique centers on S&P's alleged failure to account for Tether's robust asset base, profitability, and equity across its corporate structure. Ardoino asserts that USDT's backing exceeds market perceptions, with $500 million monthly yields from U.S. Treasury bonds alone.
The stablecoin remains a linchpin for crypto markets, facilitating payments and conversions globally. Ardoino warns that unwarranted criticism could undermine confidence in a tool relied upon by exchanges and traders worldwide. Tether's latest attestation reports continue to affirm its reserves, though skeptics demand greater transparency.
