Key Takeaways
- Consumers' Research has launched a campaign against Tether.
- The campaign accuses Tether of corruption and criminal associations.
- Efforts include a Times Square billboard and a national TV ad.
Consumers’ Research has unveiled a multi-million-dollar campaign targeting Tether (USDT), highlighting allegations of corruption and calling into question the stablecoin’s legitimacy.
The campaign includes a digital billboard in Times Square, mobile billboards in key locations, a new television ad backed by a seven-figure national buy, and the website TetheredToCorruption.com.
Here are some quotes from Consumers’ Research Executive Director Will Hild:
Since its inception in 1929, Consumers’ Research has acted as the neighborhood watch in the market, alerting consumers to bad actors and unsafe products
We are shining a light on Tether for their suspicious business practices, including a decade-long refusal to perform an audit and the routine use of the product by terrorists and traffickers of drugs and humans. Given these warning signs, we fear that Tether may very well be the next FTX.
The campaign accuses Tether of refusing independent audits and being a preferred payment method for criminal activities, including drug trafficking, human trafficking, sanctions evasion, and funding terrorist organizations like Hamas.
Despite ongoing investigations for fraud, Tether has not yet undergone proper certification to verify its asset holdings.
The campaign aims to raise awareness about these concerns through various media, including a national television ad, a massive digital billboard in Times Square, mobile billboards in Washington, D.C., and New York City, and a targeted digital campaign.
