S&p

S&P and HSBC have issued new warnings about Tether (USDT), the world’s largest stablecoin. They cite concerns over the quality and liquidity of its reserves, raising the risk of a potential de-pegging event that could impact the entire crypto market.

S&P Global Ratings has downgraded Tether’s USDT to its lowest stability level, citing insufficient reserves to cover a major Bitcoin price drop and a growing portfolio of risky assets.