The recent war of words between S&P Global and Tether isn’t just corporate drama. It is the sound of tectonic plates shifting in the global financial landscape.

When S&P downgraded Tether (USDT) to a "weak" rating—effectively junk status—Tether CEO Paolo Ardoino didn’t issue a polite corporate retraction. He fired back, stating, "We wear your loathing with pride."

to S&P regarding your Tether rating:

We wear your loathing with pride.

The classical rating models built for legacy financial institutions, historically led private and institutional investors to invest their wealth into companies that despite being attributed investment grade…

— Paolo Ardoino