Tether CEO Counters S&P's Downgrade of Stablecoin USDT, Emphasizes Surplus Capital

Paolo Ardoino, CEO of Tether, known for issuing the stablecoin USDT, countered the downgrade of USDT's dollar pegging ability by S&P Global Ratings (hereinafter referred to as S&P) on the 1st. He pointed out that S&P has misunderstood the company's financial situation. Mr. Ardoino referred to the reserve audit report for the third quarter of 2025 (July to September) and explained as follows: Tether continues to maintain billions of dollars in excess reserves (reserve assets exceeding the issued amount) and nearly $30 billion in total group equity. As of the end of September 2025, approximately 1.8...