Tether CEO responds to S&P's downgrade of USDT rating, saying the fragility of the old system is making those in power uneasy
ChainCatcher News, Tether CEO Paolo Ardoino responded to S&P's latest rating of Tether by saying, "We are proud to be hated by you."
Paolo Ardoino pointed out that traditional rating systems have long guided investors toward "investment-grade" institutions that ultimately collapsed, causing global regulators to question the independence of rating agencies. He stated that the traditional financial system is unwilling to see any company break free from its "dysfunctional gravity," but Tether has built the industry's first over-capitalized, toxic asset-free, and consistently highly profitable company, proving that the fragility of the old system is making the "emperor's new clothes" style rulers uneasy.
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