Tether CEO Paolo Ardoino responds to S&P: We are proud to be disliked by you.

In response to S&P's latest rating of Tether, Tether CEO Paolo Ardoino stated, "We are proud to be despised by you." Paolo pointed out that the traditional rating system has long led investors to ultimately collapse "investment-grade" institutions, causing global regulators to question the independence of rating agencies. He stated that the traditional financial system is unwilling to see any company escape its "malfunctioning gravity," but Tether has built the industry's first company with excessive capitalization, no toxic assets, and consistently high profitability, proving that the fragility of the old system is making those in power, like those in "The Emperor's New Clothes," uneasy.