Tether CEO: S&P's move against Tether may be intentional; currently, holding U.S. Treasuries generates approximately $500 million in monthly revenue

On November 30 (UTC+8), stablecoin issuer Tether CEO Paolo Ardoino posted on the X platform that, according to the latest attestation report for the third quarter of this year, Tether holds billions of dollars in excess reserve buffer, and Tether's total assets have reached approximately $215.00 billion, while stablecoin liabilities are approximately $184.50 billion.

In addition, S&P's mistake was not considering that US Treasury bonds held by Tether alone generate approximately $500.00 million in profit each month, and they are likely doing this intentionally to support Tether's competitors.

[ChainCatcher]