The post S&P Global downgrades Tether’s stability rating to weakest level appeared on BitcoinEthereumNews.com. Key Takeaways S&P Global has downgraded Tether’s (USDT) stability rating to its lowest level. The downgrade was prompted by Tether’s increased exposure to volatile assets like Bitcoin and gold in its reserves. S&P Global, the financial services and credit rating company, today downgraded Tether’s stability rating to its weakest level. The move targets Tether’s stablecoin, USDT, which is the largest in the cryptocurrency market, with more than $184 billion in circulation. The rating agency cited concerns over Tether’s increased exposure to volatile assets like Bitcoin and gold in its reserves, which creates potential depegging risks for the stablecoin. S&P Global also pointed to gaps in disclosures and governance as factors in the downgrade. Tether has shifted its reserve composition to include allocations to Bitcoin and gold while maintaining a majority in cash and Treasury bills. The company’s USDT stablecoin is designed to maintain its dollar peg through these asset reserves. The downgrade highlights perceived risks associated with holding volatile assets as backing for a stablecoin intended to maintain price stability. Source: https://cryptobriefing.com/sp-global-downgrades-tether-stability-rating/The post S&P Global downgrades Tether’s stability rating to weakest level appeared on BitcoinEthereumNews.com. Key Takeaways S&P Global has downgraded Tether’s (USDT) stability rating to its lowest level. The downgrade was prompted by Tether’s increased exposure to volatile assets like Bitcoin and gold in its reserves. S&P Global, the financial services and credit rating company, today downgraded Tether’s stability rating to its weakest level. The move targets Tether’s stablecoin, USDT, which is the largest in the cryptocurrency market, with more than $184 billion in circulation. The rating agency cited concerns over Tether’s increased exposure to volatile assets like Bitcoin and gold in its reserves, which creates potential depegging risks for the stablecoin. S&P Global also pointed to gaps in disclosures and governance as factors in the downgrade. Tether has shifted its reserve composition to include allocations to Bitcoin and gold while maintaining a majority in cash and Treasury bills. The company’s USDT stablecoin is designed to maintain its dollar peg through these asset reserves. The downgrade highlights perceived risks associated with holding volatile assets as backing for a stablecoin intended to maintain price stability. Source: https://cryptobriefing.com/sp-global-downgrades-tether-stability-rating/

                                                                               Robinhood acquired an Indonesian brokerage and digital asset trading firm to access a market with 17 million crypto investors.                     Crypto and stock trading platform Robinhood is set to tap into Indonesia’s burgeoning cryptocurrency trading market after an agreement to acquire two local fintech companies.In an announcement on Sunday, Robinhood said it has entered into agreements to acquire Buana Capital, an Indonesian brokerage, and PT Pedagang Aset Kripto, a licensed Indonesian digital financial asset trader, “marking our entry into one of Southeast Asia’s fastest-growing markets.”It said that Indonesia has more than 19 million capital market investors and 17 million crypto investors, making it a “compelling market for equities and crypto trading.”Read more