S&P JUST HIT TETHER WITH A “WEAK” RATING S&P Global downgraded Tether’s stability score to its lowest tier, citing rising reserve risk and limited transparency. Their key factors behind the cut: ⚠️ $USDT’s exposure to “risk assets” like $BTC, gold, corporate bonds, and loans has climbed from 17% to 24% ⚠️ #Bitcoin alone now makes up ~5.6% of reserves ⚠️ Disclosure gaps remain around custodians and underlying counterparties ⚠️ No fully segregated reserve structure S&P’s view: in a severe market downturn, these risks could make it harder for $USDT to maintain its peg. Tether pushed back on the downgrade, maintaining that its reserves remain strong -- but for traders and institutions, it’s still a data point worth noting. Not a reason to panic, just something to keep on the radar.