According to @paoloardoino, he addressed S&P regarding its Tether (USDT) rating, stating We wear your loathing with pride and criticizing classical rating models built for legacy financial institutions as having historically led private and institutional investors into investment-grade companies, signaling his disagreement with the methodology applied to stablecoins; source: @paoloardoino on X, Nov 26, 2025. According to @paoloardoino, the post explicitly references S&P’s Tether rating, underscoring Tether’s public dispute with the assessment rather than announcing changes to product structure or reserves; source: @paoloardoino on X, Nov 26, 2025. According to @paoloardoino, no operational updates, reserve disclosures, or redemption policy changes were communicated in the message, indicating the statement is a response to ratings methodology rather than a change in market operations; source: @paoloardoino on X, Nov 26, 2025.