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Did S&P "red card" USDT?
What is S&P Global doing with this operation? They directly downgraded USDT's ability to be pegged to the US dollar to the lowest rating, and warned that "a drop in Bitcoin could lead to insufficient collateral for USDT"...
Look at this reason: Over the past year, the exposure to high-risk assets (like Bitcoin and gold) in the USDT reserves has been increasing, coupled with insufficient transparency in disclosed information, leading to a downgrade in stability rating from "restricted" to "weak". This downgrade in rating is likely to shake the stablecoin market a bit.
#BTC #ETH #PI #SOL