Tether CEO: S&P's crackdown on Tether may be intentional, currently holding U.S. Treasury bonds that generate about $500 million in revenue per month

The CEO of stablecoin issuer Tether, Paolo Ardoino, posted on the X platform stating that according to the latest attestation report for the third quarter of this year, Tether holds billions of dollars in excess reserve buffers, with total assets reaching approximately $215 billion, while stablecoin liabilities are about $184.5 billion.

In addition, S&P's mistake lies in not considering that the U.S. Treasury bonds held solely by Tether can generate about $500 million in profit each month, and they are likely doing this intentionally to support Tether's competitors.