Key takeaways
- S&P downgraded the stability of USDT due to reserve risks and lack of full transparency.
- Tether has responded with a sweeping defense of its reserves, profitability, and systemic importance in emerging markets
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Tether has taken issue with S&P Global’s post-agency ratings reduced USDT’s stability score reached 5, its lowest level, due to exposure to risky assets such as Bitcoin and lack of reserve clarity.
Tether called the downgrade misleading and based on an outdated framework that ignores the stablecoin’s track record and real-world usage. She noted that USDT has never failed to recover, even during crises, and continues to process billions in volume daily across major exchanges and DeFi platforms.
The company emphasized $135 billion in treasury exposure, making it among the world’s largest bondholders, and cited earnings of more than $13 billion in 2024 and $10 billion so far in 2025 as evidence of its strength.
He also highlighted the global role USDT plays as a financial infrastructure in emerging markets like Türkiye and Nigeria, rather than just a speculative token.
CEO Paolo Arduino It was rejected The coin was labeled as outdated financial propaganda, posted: “We wear your hate with pride,” and challenged S&P to value USDT using transparent on-chain data instead of outdated models.
