stablecoin

S&P Global Ratings downgraded Tether's USDT stablecoin to its lowest possible rating of "5 (weak)" on November 26, 2025, from a "4 (constrained)". The downgrade was prompted by Tether's increased holdings of high-risk assets like Bitcoin and gold, along with persistent concerns about the opacity of its reserves and disclosures. Tether's CEO, Paolo Ardoino, defiantly responded to the news with the quote, "We wear your loathing with pride".
Reasons for the S&P downgrade:
Growing exposure to high-risk assets: Over the past year, the proportion of riskier assets in Tether's reserves has risen from 17% to 24%. S&P highlighted Tether's increased holdings in Bitcoin, gold, corporate bonds, and secured loans, which add market volatility and risk.
Bitcoin exposure exceeding the buffer: As of September 30, 2025, Tether's Bitcoin holdings constituted 5.6% of its circulating supply, surpassing the 3.9% over-collateralization margin. S&P warned that a drop in Bitcoin's price could potentially lead to under-collateralization.
Persistent transparency issues: S&P reiterated its long-standing concerns regarding Tether's limited disclosure on the creditworthiness of its custodians and counterparties.
Relatively weak regulatory framework: S&P views the regulatory oversight in El Salvador, where Tether is now regulated, as having flaws, such as broad definitions for reserve assets and a lack of required asset segregation.
Tether's rebuttal:
Tether's CEO Paolo Ardoino rejected the downgrade, accusing S&P of using outdated rating models designed for the conventional financial system.
Ardoino stated that Tether is "the first overcapitalized company in the financial industry" with no "toxic reserves," and that the company's profitability and resilience prove the traditional financial system is "broken".
Tether's response also emphasized its track record of maintaining stability and fulfilling billions in redemptions, even during market crises.
The company highlighted its position as a major holder of U.S. Treasuries, arguing that this and its profitability demonstrate its financial strength.
$USDT

#Tether , #stablecoin , #USDT , #CryptoNews , #CryptoIn401k .

There is a silent battle happening in the background of global finance. It is not about interest rates. It is not about stock markets. It is not even about central banks. It is a competition to control something far more powerful than most people realize. The future of digital dollars. Stablecoins are no longer just crypto tools. They are turning into the backbone of an entirely new global financial system. A system that is faster, cheaper, global, transparent and completely borderless.

The world is entering the stablecoin war and this time the players are very different. Traditional banks, FinTech giants, crypto issuers, tokenization platforms, onchain credit systems, and even governments are all trying to position themselves. Why. Because money is moving to the blockchain. Not the speculative part. The transactional part. The payments. The remittances. The settlement. The credit. The global transfer of value.

Stablecoins are winning this shift because they provide something the traditional banking system cannot deliver. Instant settlement, global accessibility, programmable money and transparent collateral. And in this war, USDT and USDC are no longer the only giants. A new wave of stablecoins is emerging, backed by real world assets and powered by onchain credit systems like Falcon Finance’s USDf, Ethena’s USDe, Maker’s sDAI, and algorithm hybrid models that solve the stability problem.

For the first time ever the global stablecoin supply is rising again after months of contraction. That alone is a powerful macro signal because stablecoins represent onchain liquidity. When stablecoins grow, the crypto market grows. When stablecoins shrink, liquidity dries up. And right now the stablecoin curve is turning upward faster than most analysts expected. But the story is not only about growth. It is about competition.

USDT still dominates the market with a massive share, especially in emerging economies. It is trusted because it works, it is fast and it has liquidity everywhere. It is the dollar that people actually use in places where banks are slow or unstable. But USDC is rising again with a new regulatory framework, global bank integrations and deep institutional adoption. It focuses on compliance, transparency and corporate partnerships. These two giants represent the old phase of the stablecoin war. What comes next is something entirely different.

We are now entering the era of RWA backed stablecoins. These stablecoins are not backed by traditional bank reserves. They are backed by tokenized real world assets like treasuries, bonds, credit portfolios and yield bearing instruments. Systems like USDf and USDe are leading this shift. They turn collateral like staked ETH, tokenized treasuries or liquidity vaults into onchain dollars. This creates a new kind of stablecoin that earns organic yield, grows through real assets and improves capital efficiency. It also shifts power away from the banking system and into decentralized finance.

Falcon Finance’s USDf is one of the most interesting examples. It accepts liquid tokens and real world assets as collateral, generates overcollateralized synthetic dollars and feeds liquidity back into DeFi. This creates a universal collateral layer that supports payments, credit, liquidity and onchain leverage without needing banks. It is a stablecoin built for the multi chain economy. And it represents exactly why the stablecoin war is becoming so intense.

Ethena’s USDe is another major player. It creates synthetic dollars backed by staked ETH and hedging mechanisms. Instead of relying on physical dollars in a bank, it relies on liquidity, yield and crypto native collateral. This type of stablecoin grows through market structure rather than traditional banking. It appeals to users who want yield bearing stability without trusting centralized custodians.

Then there are tokenized real world stablecoins that reflect treasury yields. Maker is transforming DAI into a real yield instrument. These new models are winning attention because they offer what traditional dollars cannot. Yield. In a world where inflation destroys value, people want stablecoins that earn. And blockchain finally allows programmable stable yield in a transparent environment.

The stablecoin war is not only a technical battle. It is also a geopolitical shift. Emerging markets like Pakistan, India, Nigeria, Argentina, Brazil and countries in the Middle East are adopting stablecoins at a pace that is shocking global regulators. People use stablecoins as savings, salaries, remittances and business transactions. They trust stablecoins more than local currencies. This is why governments are starting to pay attention. Not because of Bitcoin. Not because of DeFi. But because stablecoins are replacing parts of their monetary system.

Central banks around the world tried to introduce CBDCs but most of them failed to get real adoption. The reason is simple. CBDCs are centralized and limited. Stablecoins are open and global. They integrate with exchanges, apps, wallets, DeFi protocols, global payment systems and smart contracts. They can move across borders instantly. They can interact with AI agents, credit systems and automated payments. They are programmable money. And this gives them an advantage that government-backed systems struggle to match.

The next phase of the stablecoin war will be defined by liquidity, transparency, yield and integrations. USDT will dominate emerging markets. USDC will dominate regulated finance. But real world asset backed stablecoins like USDf and USDe will dominate the new digital financial economy. They offer stronger capital efficiency and deeper integration with DeFi, trading, yield systems and onchain credit.

Stablecoins also represent the foundation for the agent economy and AI powered financial systems. AI agents need a currency they can use without friction. They need programmable value. They need instant settlement. They need verifiable collateral. Stablecoins are perfect for this. Whether it is KITE agents performing transactions, Injective agents executing trades, or autonomous systems managing liquidity, stablecoins are the fuel they all rely on.

Another major battleground will be payments. Traditional payment systems are slow, expensive and limited. Stablecoins are instant, global and programmable. Companies are now integrating them into payroll systems, international payments, merchant settlements and supply chains. This will create massive demand for compliant, scalable stablecoins and the networks that support them.

But the biggest shift will come when stablecoins begin replacing parts of the global bond market. When tokenized treasuries become collateral for stablecoin issuance, billions of dollars in institutional capital will flow into blockchain infrastructure. This will increase liquidity, reduce volatility and create a sustainable base for long term growth in the crypto market.

The stablecoin war will not produce one winner. It will produce categories. Just like banks and currencies coexist globally, different stablecoins will coexist across different sectors. The winners will be the ones that solve real problems. Fast settlement. Programmable value. Real collateral. Global access. Stable yield. Secure infrastructure.

And behind all of this lies the biggest truth of the digital age. Money is becoming software. Stablecoins are the code that powers that money. And blockchains are the operating systems that run it.

The next cycle of crypto will not be defined by hype. It will be defined by stablecoins that operate like financial engines. The stablecoin war has already started. The world simply has not realized how big it will become.
#Crypto
#stablecoin
#WriteToEarnUpgrade

Purpose Built for Stablecoin Payments

Most blockchains weren’t built with stablecoins in mind. @Plasma is. It’s a purpose built Layer 1 blockchain for stablecoin payments. Unlike legacy, general-purpose blockchains that cater for a wide variety of onchain applications, Plasma is designed from the ground up for high volume, low cost payments and delivers the scale, speed, and reliability stablecoins demand.
Native USD₮ Support

USD₮ sits at the heart of Plasma. This is achieved through free transfers for USD₮ and the stablecoin being a whitelisted gas token. As a result, stablecoin payments with USD₮ on #Plasma enable an abstracted experience for people and businesses globally.
Low Fees and Near-Instant Finality

Stablecoin payments transfers on Plasma are extremely cheap, and in the case of USD₮ transactions, free. Furthermore, the network features a high transaction per second (TPS) throughput and near-instant finality.
Simple User Onboarding

Plasma’s vertically integrated payment stack enables simple, efficient user onboarding. People and businesses can seamlessly create wallets and access stablecoins on Plasma in a variety of ways, including WhatsApp, Google, AppleID and other popular social logins.
Integrated Stablecoin Infrastructure

Plasma provides robust infrastructure and tooling for developers and merchants to integrate stablecoin payments into their applications. From APIs and SDKs to point-of-sale modules and webhooks, the network supports seamless integration for a wide range of use cases. This enables businesses to build payment flows, accept USD₮ at checkout, automate payouts, and embed stablecoin functionality with minimal overhead.
Liquidity

Plasma launched as one of the most liquid stablecoin networks globally, with over $1 billion in USD₮ from day one. Developers can build on a network where deep liquidity is available from the start.
$XPL #stablecoin

Almost every blockchain talks about decentralization, but few discuss what decentralization truly costs. The reality is simple and harsh: validator networks survive not on ideology, but on economic predictability.
When operators stake capital, run infrastructure, and secure millions in stablecoin transfers, they need a system where:
Revenue flows steadily 💵Rewards behave transparently 🔍Validation is predictable ⚙️
This is where @Plasmais shines—a Layer-1 network built around this silent truth.
Validator Stability: The Secret Ingredient 🔑
What makes Plasma interesting isn’t just that it supports stablecoin settlements. It’s that validator operations align with the rhythm of settlement.
Stablecoin transactions follow predictable cycles ⏱️Most validators operate in unpredictable environments 🌪️
By matching these cycles, Plasma strengthens network security alongside stablecoin stability.
Two Pillars of Plasma ⚙️
EVM Compatibility: Validators work in a familiar environment where tooling updates don’t disrupt operationsLow-Volatility Settlement Layer: Transactions occur in predictable patterns, creating operational stability.✅ Together, these elements give Plasma an operational predictability most general-purpose L1s lack.

Incentives Flow: Consistency Over Spikes 💰
Plasma does not rely on volatile fee markets. Instead:
Transfers settle cleanlyBlock production stays tightly timedReward streams resemble a clearinghouse ledger rather than a volatile auction.
Validators can plan long-term operations without over-provisioning hardware or hedging rewards.
Reward Slashing: A Smarter Risk Model 🛡️
Instead of destroying staked capital for mistakes:
Plasma focuses on reducing rewards rather than principaalidators face meaningful consequences without catastrophic loss.Encourages uptime-focused operators rather than gamblers
Stable Flows, Lean Operations 🌊
Stablecoins move predictably, which:
Stabilizes validator revenuReduces load spikesMinimizes hardware over-provisioning
Result: security and economic stability reinforce each other.
Long-Term Benefits 🎯
Better Governance: Predictable rewards foster informed decisions.User Trust: Predictable network behavior increases confidence.Resilient Security: Security grows with predictable monetary flows, not hype cycles.💥Conclusion 💡
Plasma demonstrates that consistency may be the most undervalued innovation in blockchain.

Stablecoins need predictable rails. Plasma builds them quietly but effectively.
$XPL is shaping the future of validator stability and predictable networks.

中文版本 – Plasma：稳定性的无声革命 ⚡💎
几乎每个区块链都在谈论去中心化，但很少有人讨论 去中心化真正的成本。现实很简单，也很残酷：验证者网络依赖的不是理念，而是 经济可预测性。
当运营者抵押资本、运行基础设施并保障数百万美元的稳定币转账时，他们需要一个系统：
收益稳定流动 💵奖励透明公开 🔍验证操作可预测 ⚙️
这正是 @Plasmais 的优势所在——一个围绕 这一沉默真相 构建的 Layer-1 网络。
验证者稳定性：关键秘密 🔑
Plasma 的魅力不仅在于支持稳定币结算，而在于 验证者操作与结算节奏匹配。
稳定币交易遵循可预测的周期 ⏱️大多数验证者环境不稳定 🌪️
通过匹配这些周期，Plasma 增强了网络安全，同时保持稳定币的稳定性。
Plasma 的两大支柱 ⚙️
EVM 兼容性：验证者在熟悉的环境中工作，工具更新不会扰乱操作。低波动结算层：交易按照可预测模式进行，实现操作稳定性。
✅ 两者结合，使 Plasma 拥有大多数通用 L1 缺乏的 操作可预测性。
激励流动：稳定胜过波动 💰
Plasma 不依赖 波动的手续费市场。取而代之：
交易结算清晰区块生产时间严格奖励流更像清算所账本，而非波动拍卖
验证者可以 长期规划操作，无需超额配置硬件或对冲奖励。
奖励惩罚：更聪明的风险模型 🛡️
验证者失误时：
Plasma 主要 减少奖励，而非销毁本金验证者面临重要惩罚，但不会遭受灾难性损失鼓励关注运行时间的运营者，而非投机者
稳定流动，精简操作 🌊
稳定币 规律流动，从而：
稳定验证者收益降低负载峰值减少硬件冗余
结果：安全性和经济稳定性相互增强。
长期收益 🎯
更优治理：可预测奖励促进理性决策用户信任：网络行为可预测，提高信心弹性安全：安全性随可预测货币流增长，而非炒作周期👉结论 💡Plasma 证明了 一致性可能是区块链最被低估的创新。
稳定币需要可预测的底层轨道。Plasma 默默构建了这一基础设施。$XPL 正在塑造 验证者稳定性与可预测网络的未来。
Hashtags
#Plasma #stablecoin #Layer1 #BlockchainSecurity #CryptoInnovation #PredictableNetwork #XPL 💎
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