Paolo Ardoino, CEO of Tether Holdings Ltd., has taken issue with the recent S&P Global downgrade of USDT, challenging the credibility of traditional rating systems and highlighting potential issues within the existing financial model. He emphasizes Tether’s stability, stating that it operates with ‘overcapitalization’ and is free from toxic assets compared to institutions like those reviewed by S&P. Ardoino also criticized mainstream finance for failing to adapt to digital financial models. The downgrade has not significantly impacted Tether’s operations or market influence. USDT continues to maintain its 1:1 peg to the US dollar despite the rating change. However, the event raises questions about regulatory frameworks and the stability of cryptocurrency ecosystems.