Dogecoin Coils For A Monster 90% Breakout, Analyst Predicts

Tether, the issuer of the USDT stablecoin, has been downgraded by S&P Global to the lowest rating of '5 (weak)' due to concerns over its asset disclosures and increasing exposure to high-risk investments, including Bitcoin and corporate bonds. This downgrade reflects ongoing scrutiny of Tether's financial practices and reserve management.

The Dogecoin ETF has had a disappointing launch, failing to meet market expectations and underperforming compared to the XRP and Solana ETFs, which have seen significant inflows. The Dogecoin ETF only managed to generate $1.41 million in trading volume on its debut day, raising concerns about its attractiveness to investors.

Tether has publicly disputed the methodology used by S&P Global Ratings following a downgrade of its stablecoin USDT, which has been attributed to the increasing risks associated with its exposure to falling Bitcoin prices. This downgrade has raised concerns regarding the stability of USDT's dollar peg and overall market confidence in the stablecoin.

Binance has launched a concierge crypto service aimed at wealth managers and family offices, responding to the growing demand from traditional financial clients entering the cryptocurrency market. This initiative is part of Binance's strategy to expand its offerings and cater to a more diverse clientele.

Tether has responded to S&P Global Ratings' downgrade of its stablecoin USDT to the lowest score, emphasizing its substantial assets, including $135 billion in Treasuries and $13 billion in profit, as well as its critical role in global payments.

S&P Global has downgraded Tether's stability rating for its USDT stablecoin to the lowest level, citing concerns over reserve exposure and governance issues. This downgrade reflects growing apprehensions regarding Tether's financial practices and asset management, particularly in light of its increasing vulnerability to market fluctuations, especially in Bitcoin prices.

S&P Global Ratings has downgraded Tether's USDT, citing the increasing vulnerability of the stablecoin due to its rising exposure to Bitcoin, which has been experiencing significant price declines. This downgrade reflects concerns about the stability of USDT's dollar peg amid a volatile cryptocurrency market.

Binance has launched Binance Prestige, a bespoke white glove service designed for ultra high-net-worth crypto investors and family businesses with assets around $10 million. This initiative aims to cater to the growing demand for personalized services in the cryptocurrency sector.