🚨 BREAKING: S&P Global cuts Tether stablecoin rating to 'weak' on disclosure gaps
Автор: Sam Boboev
Загружено: 2025-11-27
Просмотров: 161
Tether has been stuffing more Bitcoin into its reserves. Bitcoin is now 5.6% of all USDT in circulation. The safety buffer is 3.9%. They blew past it.
Bitcoin dropped 20% this month. At the same time, Tether increased the share of high risk assets like BTC, gold, secured loans, and corporate bonds to 24% of its reserves. Last year it was 17%.
S&P is basically saying all it takes is one more Bitcoin crash and USDT could become undercollateralised. That is the nightmare scenario.
Meanwhile USDC is sitting comfortably with a “strong” rating.
And to make this even spicier, Tether moved to El Salvador this year. Regulators there allow more high risk assets in reserves and don’t require strict asset segregation.
Tether is still insanely profitable. Ten billion dollars in the first three quarters of 2025. Thirteen billion last year.
But profits don’t protect a peg. Reserves do.
And right now, that’s the part everyone is watching.
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