Tether CEO Paolo Ardoino Slams Traditional Rating Agencies After S&P Downgrades Its Dollar Peg Ability

Paolo Ardoino, the CEO of Tether (CRYPTO: USDT), questioned on Wednesday the methodologies adopted by traditional rating agencies after the S&P downgraded the stablecoin issuer’s stability rating.

Tether CEO Challenges TradFi Ratings

Ardoino slammed S&P Global Ratings in an X post, saying that the company wears the “loathing” with pride.

Ardoino criticized the “classical rating models,” alleging that they have led investors to put money in companies that eventually collapsed despite receiving investment-grade ratings.

“The traditional finance propaganda machine is growing worried when any company tries to defy the force of gravity of the broken financial system,” the CEO said.

Full story available on Benzinga.com