{"id":56120,"date":"2025-11-27T09:29:05","date_gmt":"2025-11-27T02:29:05","guid":{"rendered":"https:\/\/hbbgroup.net\/tether-faces-downgrade-by-sp-global-amid-concerns-over-disclosure-and-assets-holdings\/"},"modified":"2025-11-27T09:29:05","modified_gmt":"2025-11-27T02:29:05","slug":"tether-faces-downgrade-by-sp-global-amid-concerns-over-disclosure-and-assets-holdings","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/tether-faces-downgrade-by-sp-global-amid-concerns-over-disclosure-and-assets-holdings\/","title":{"rendered":"Tether Faces Downgrade By S&P Global Amid Concerns Over Disclosure And Assets Holdings"},"content":{"rendered":"
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Tether, the entity behind the world\u2019s largest stablecoin by market capitalization, USDT, has experienced a downgrade in its rating by S&P Global. This decision, made public on Wednesday, stems from what the agency describes as \u201cpersistent gaps in disclosure\u201d and a growing allocation of \u201chigh-risk assets\u201d within Tether\u2019s reserves.\u00a0<\/span><\/p>\n

The assets highlighted include Bitcoin (BTC), gold, corporate bonds, secured loans, and other investments, all of which entail various risks, including credit, market, interest rate, and foreign exchange vulnerabilities.<\/span><\/p>\n

Tether CEO Responds To S&P Downgrade<\/span><\/h2>\n

In a recent research note, S&P Global <\/span>detailed <\/span><\/a>that this upgrade came as part of a new assessment scale implemented in 2023, ranging from 1 to 5. This scale evaluates the risk associated with different stablecoins.\u00a0<\/span><\/p>\n

Following the assessment, S&P rated Tether\u2019s USDT stablecoin as \u201c5 (weak),\u201d marking it as the lowest possible score and down from its previous rating of \u201c4 (constrained).\u201d S&P expressed concerns regarding the limited insight Tether provides into the creditworthiness of its custodians and counterparties.\u00a0<\/span><\/p>\n

Despite this, Tether\u2019s CEO,<\/span> Paolo Ardoino<\/span><\/a>, responded in a social media post on X (formerly Twitter) stating, \u201cWe wear your loathing with pride.\u201d He argued that traditional credit rating methods used by agencies like S&P arose from a system that has faltered, leading regulators to challenge these legacy models.\u00a0<\/span><\/p>\n

Ardoino contended that Tether stands out as a \u201covercapitalized\u201d organization within the financial sector, claiming it does not harbor \u201ctoxic reserves.\u201d He further suggested that S&P\u2019s methods are better suited for conventional banks and insurers with opaque financial histories, rather than being applicable to digital asset issuers who operate under different reserve structures.<\/span><\/p>\n

Ardoino\u2019s remarks indicate a belief that the agency\u2019s downgrade indicates discomfort within traditional finance toward entities like Tether that aim to transcend a \u201cbroken financial system.\u201d The firm\u2019s CEO <\/span>noted<\/span><\/a>:\u00a0<\/span><\/p>\n

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The traditional finance propaganda machine is growing worried when any company tries to defy the force of gravity of the broken financial system. No company should dare to decouple itself from it.<\/span><\/p>\n<\/blockquote>\n

Largest Independent Gold Holder<\/span><\/h2>\n

In the aftermath of the downgrade, Tether strongly rejected S&P\u2019s characterizations, emphasizing its resilience through various financial crises, including banking collapses, exchange failures, liquidity challenges, and extreme market fluctuations\u2014all while maintaining full stability and the ability to redeem <\/span>USDT<\/span><\/a>.<\/span><\/p>\n

Tether also pointed to its issuance of approximately $184 billion worth of USDT, assuring stakeholders that it holds sufficient reserves, including US Treasuries and other assets, to satisfy redemptions.\u00a0<\/span><\/p>\n

Notably, recent reports from the Financial Times reveal that Tether has emerged as the largest independent holder of gold globally, highlighting the firm\u2019s increasing exposure to non-traditional reserve assets.<\/span><\/p>\n

According to the <\/span>report<\/span><\/a>, the stablecoin issuer bought more gold in the last quarter of the year than any central bank in the world. The figures show that the firm bought 26 tons of gold, adding to its substantial gold reserve of nearly 120 tons.\u00a0<\/span><\/p>\n

\"Tether\"
The daily chart shows the total crypto market cap surged above $3 trillion once again on Wednesday. Source: TOTAL on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from DALL-E, chart from TradingView.com\u00a0<\/span><\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Tether, the entity behind the world\u2019s largest stablecoin by market capitalization, USDT, has experienced a downgrade in its rating by […]<\/p>","protected":false},"author":5,"featured_media":56122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220],"tags":[],"class_list":["post-56120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tien-dien-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/56120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/comments?post=56120"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/56120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media\/56122"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media?parent=56120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/categories?post=56120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/tags?post=56120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}