Has S&P given USDT a "red card"?
What is S&P Global up to with this move? They've directly downgraded USDT's ability to be pegged to the dollar to the lowest rating, and warned that "a drop in Bitcoin could cause USDT to be under-collateralized"...
Here’s the reason: over the past year, the exposure to high-risk assets (like Bitcoin and gold) in USDT reserves has been increasing, coupled with insufficiently transparent disclosure of information, leading to a stability rating that has dropped from "limited" to "weak". This downgrade is likely to shake the stablecoin market quite a bit 😂
