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Tether CEO responds to S&P's downgrade of USDT rating: The fragility of the old system is making those in power feel uneasy.
On November 27, 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 ultimately collapsing “investment-grade” institutions, raising doubts about the independence of rating agencies in global regulation. He claimed 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 sustainably highly profitable company, proving that the fragility of the old system is making the “emperor's new clothes” rulers uneasy.