Why S&P downgraded Tether after it bought more gold than any country this year

Tether, the issuer of the USDT stablecoin, has spent the past year accumulating Bitcoin and gold at a pace that puts it on par with several sovereign treasuries. For context, the firm purchased more gold than every central bank combined over the last quarter alone, pushing its total holdings to 116 tons of physical bullion. The post Why S&P downgraded Tether after it bought more gold than any country this year appeared first on CryptoSlate.