Tether CEO: S&P's crackdown on Tether may be intentional; current holdings of US Treasury bonds generate about $500 million in monthly revenue

ChainCatcher News, stablecoin issuer Tether CEO Paolo Ardoino posted on X stating that, according to the latest attestation report for Q3 this year, Tether holds several billions of dollars in excess reserve buffers. Tether's total assets have reached approximately $215 billions, while stablecoin liabilities are around $184.5 billions.

In addition, the mistake made by S&P is that they did not take into account that the U.S. Treasury bonds held solely by Tether can generate about $500 millions in profit each month, and they are likely doing this intentionally to support Tether's competitors.