https://www.bloomberg.com/news/articles/2025-11-26/tether-stablecoin-stability-rating-reduced-to-weak-at-s-p?srnd=homepage-americas&embedded-checkout=true

S&P says tether, with 70-80% reserves in USTs is “weak.”

Now do JPM.

And tradfi inflooencers spike the football that this proves tether is a scam.