S&P has downgraded Tether’s stability rating to “weak,” stating that #Bitcoin now makes up 5.6% of USDT reserves, above the 3.9% buffer needed to absorb a price drop.
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Discussion
Laughs in central banker. 🧐🤣
It'll really hurt their noggin when tether's coin is valued higher than the US dollar, because it will be backed by gold and Bitcoin.
Why do we still need fiat if we can do this? https://stacker.news/items/1292554
lol if the price drops it’lil be 3.9% to meet the buffer