#稳定币发展与风险 Seeing the news that S&P downgraded USDT, I couldn't help but fall into deep thought. Thinking back, I too once had unwavering faith in these so-called authoritative institutions. But after experiencing so many market upheavals, I’ve realized these ratings are often nothing more than armchair analysis.

Despite ongoing controversy, USDT has stood the test in every crisis. In contrast, many institutions with excellent ratings have already gone bankrupt. This reminds me of an old saying: don’t be fooled by appearances—see if the real gold can withstand the test of fire.

As someone with experience, I want to remind everyone: don’t blindly trust any institution’s ratings—learn to think independently. Pay attention to a project's actual operations and observe how it performs in a crisis; this is far more convincing than any rating. Of course, diversification is always key—never put all your eggs in one basket.

In this ever-changing crypto world, staying vigilant and eager to learn is the way to go in the long run. After all, true value is often hidden in the details, not in the flashy rating labels.