🔸 S&P downgraded the stable rating of ( maintaining the peg) of the stablecoin USDT to the weakest level as Tether is holding too many risky assets like bitcoin and gold. 🔸 Bitcoin currently accounts for about 5.6% of USDT reserves, higher than the collateral portion of 3.9%, so if the price of Bitcoin drops significantly, USDT may not have enough assets to back it. 🔸 Besides bitcoin, USDT also holds gold, corporate bonds, and risky loans, but lacks detailed reporting, raising concerns among analysts. 🔸 Tether opposes the assessment of S&P and argues that this agency uses outdated standards that do not accurately reflect the current crypto market #JoinGrowthPointsDrawToWiniPhone17 #DecemberRateCutForecast #BitcoinPriceWatch $BTC $ETH
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S&P DOWNGRADE STABLE TETHER USDT
🔸 S&P downgraded the stable rating of ( maintaining the peg) of the stablecoin USDT to the weakest level as Tether is holding too many risky assets like bitcoin and gold.
🔸 Bitcoin currently accounts for about 5.6% of USDT reserves, higher than the collateral portion of 3.9%, so if the price of Bitcoin drops significantly, USDT may not have enough assets to back it.
🔸 Besides bitcoin, USDT also holds gold, corporate bonds, and risky loans, but lacks detailed reporting, raising concerns among analysts.
🔸 Tether opposes the assessment of S&P and argues that this agency uses outdated standards that do not accurately reflect the current crypto market #JoinGrowthPointsDrawToWiniPhone17 #DecemberRateCutForecast #BitcoinPriceWatch $BTC $ETH