The Next FTX NonProfit Organization Launches MillionDollar Ad Campaign Criticizing Tether
Non-profit organization Consumers’ Research has recently targeted the growing stablecoin Tether, claiming that the unaudited Tether could be the next FTX.
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Non-profit organization launches new ad campaign against Tether
Will Tether become the next FTX?
Non-profit organization: Tether only talks about nearing completion of audit
California-based non-profit organization Consumers’ Research has launched a multimillion-dollar advertising campaign, utilizing television and billboards, among other forms, to criticize Tether’s business practices.
The 30-second advertisement, which claims to cost millions of dollars, will be displayed on digital billboards in Times Square, as well as mobile billboards in New York and Washington D.C.
The core slogan of the advertisement is:
Will Tether become the next FTX?
Consumers’ Research, established in 1929, is a non-profit educational organization formed under U.S. tax law, primarily supported by religious and conservative groups. The organization’s other activities include its “anti-ESG movement” and serving as a public channel for reporting on corporations.
According to a press release from Consumers’ Research, Executive Director Will Hild stated:
“In the past 95 years, this (cryptocurrency) technology may have undergone tremendous changes, to the point where the currency itself is undergoing revolutionary changes, but our mission remains the same. We are exposing Tether’s suspicious business practices, including a decade-long refusal to undergo audits, as warning signs. We are concerned that Tether could very well become the next FTX, and consumers should reject such a stablecoin.”
Consumers’ Research has specifically created the website “TetheredToCorruption.com,” which covers previous unfavorable reports on Tether from mainstream media outlets such as The Wall Street Journal and Bloomberg. However, these are known information and there is no new insider information to support Consumers’ Research’s claims.
Will Hild has also continuously criticized Tether on Twitter, citing a 2021 interview where Tether’s Chief Legal Officer Stuart Hoegner stated that he expected the long-awaited Tether audit to be completed within a few months. Now, three years have passed, and we are still waiting… What are they hiding?
(Leading global accounting firms refuse to conduct Tether’s audit, Tether CEO: Actively building relationships)
Consumers’ Research
FTX
Tether
Further reading:
FTX liquidator expects creditors to receive between 119 and 143 cents per dollar, discusses restructuring plan on 6/25
FTX reaches settlement with the U.S. Internal Revenue Service, resolves $24 billion lawsuit
