Next FTX Initiative NonProfit 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 attacking Tether
Will Tether become the next FTX?
Non-profit organization: Tether only says audits are almost complete
California-based non-profit organization Consumers’ Research has launched a multi-million-dollar advertising campaign that will be promoted through television, billboards, and other forms of media to heavily criticize Tether’s business practices.
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The claim is that the multi-million-dollar ad, lasting only 30 seconds, will be played on digital billboards in Times Square and mobile billboards in New York and Washington, D.C.
The core slogan of the ad is:
Will Tether become the next FTX?
Consumers’ Research, established in 1929, is a non-profit educational organization formed under U.S. tax law and primarily supported by religious and conservative groups. The organization’s other activities include its “ESG Opposition Movement” and serving as a public reporting channel for corporate misconduct.
According to Consumers’ Research’s press release, 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, and we are concerned that Tether is likely to become the next FTX. Consumers should reject such a stablecoin.
Consumers’ Research has specifically set up the website “TetheredToCorruption.com,” which covers previous unfavorable reports on Tether from mainstream media 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 been continuously criticizing Tether on Twitter, quoting a 2021 interview where Tether’s Chief Legal Officer Stuart Hoegner stated that he expected the long-awaited Tether audit to be completed in just a few months. Now, three years have passed, and we are still waiting… What are they hiding?
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The world’s top four accounting firms dare not undertake Tether audits, Tether CEO: Actively building relationships
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Consumers’ Research
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Further reading:
FTX Liquidator Expects Creditors to Recover Between 119 to 143 Cents per Dollar, Discusses Restructuring Plan on June 25th
FTX Settles with the IRS, Resolving $24 Billion Lawsuit
