
吴说区块链|Nov 29, 2025 12:56
《S&P Gives Tether the Worst Rating, Which Stablecoin Does It Favor?》 (Author: @azuma_eth)
S&P, along with Moody's and Fitch, is one of the world's top three rating agencies and is widely recognized as one of the most authoritative credit rating institutions in the international financial market.
S&P will assign asset quality scores to stablecoins ranging from 1 to 5 (Very Strong, Strong, Adequate, Limited, Weak).
Tether's Bitcoin reserves account for about 5.6% of USDT's total circulation, exceeding USDT's own 3.9% over-collateralization rate. If the value of BTC and other high-risk assets declines, it could weaken USDT's reserve coverage capacity.
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