Tether's USDT Downgraded, CEO Dismisses Concerns

Tethers USDT stablecoin, a resilient player in the crypto market, has earned billions for its issuer, Tether. However, a recent downgrade by S&P Global and criticisms from traditional finance and crypto community members have raised concerns about the companys stability and transparency. Tethers CEO dismissed the downgrade, while angel investor Jason Calacanis suggested selling Bitcoin holdings and undergoing independent audits. Critics argue that a lack of full, independent audit indicates underlying issues and transparency is crucial for a stablecoin issuing billions in digital dollars.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.