S&P Global: Downgrades USDT's ability to peg to the US dollar to the lowest rating.

On November 26, Bloomberg reported that S&P Global Ratings has downgraded Tether's ability to maintain the peg of its USDT stablecoin to the US dollar to the lowest rating and warned that a fall in Bitcoin prices could lead to risks of under-collateralization for the stablecoin. On Wednesday, analysts at the rating agency lowered the stability rating of USDT from “limited” to “weak.” S&P stated that this assessment “reflects the increased exposure to high-risk assets in USDT reserves over the past year,” which include Bitcoin, gold, secured loans, and corporate bonds, while also considering the limited disclosure of information.