Tether CEO responds to S&P's downgrade of USDT rating, the fragility of the old system is making those in power uneasy

Tether CEO Paolo Ardoino responded to S&P's latest rating of Tether by stating, "We take pride in being hated by you."

Paolo Ardoino pointed out that the traditional rating system has long led investors towards "investment-grade" institutions that ultimately collapse, raising global regulatory concerns about the independence of rating agencies. He stated that the traditional financial system is unwilling to see any company break free from its "failing 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" rulers uneasy.