In brief S&P Global Ratings has downgraded USDT's ability to keep a 1:1 peg with the dollar, giving it a "weak" rating. The credit ratings provider said this is because Tether, the company behind USDT, uses risky assets in its reserves to back the token. Tether blasted the rating and pointed to how the token...

On today's episode of CNBC Crypto World, digital currencies rise alongside gains on Wall Street. Plus, Robinhood acquires a prediction market platform formerly owned by FTX. And Cosmo Jiang of Pantera Capital breaks down the main drivers for the crypto market after the recent sell-off.