WASHINGTON, June 18,
2024 /PRNewswire/ -- Today, Consumers'
Research launched a multi-million-dollar campaign targeting
Tether (USDT), a so-called stablecoin
that is commonly used by the world's worst actors and attracted
well-deserved scrutiny about its legitimacy.
"Since its inception in 1929, Consumers' Research has acted as
the neighborhood watch in the market, alerting consumers to bad
actors and unsafe products," said Consumers' Research Executive
Director Will Hild. "The
technology may have changed dramatically over the last 95 years, to
the point that money itself is now being revolutionized, but our
mission remains the same. 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 that
Tether may very well be the next FTX. Consumers should
be weary of any so-called stablecoin that refuses to
properly certify that they actually hold the assets they
claim."
The campaign outlines how Tether poses a threat to
consumers. Tether has chronically been under
investigation for fraud, yet it refuses to be
independently audited and according to reports it is a go-to form
of payment for cartels, human trafficking networks, sanctions
evaders, and terrorist organizations like Hamas.
The Consumers' Research campaign launch will include:
- A new television ad back by a
seven-figure national buy
- A new website, TetheredToCorruption.com
- A Massive Digital Billboard in Times Square
- A series of mobile billboards deployed in key locations
including Washington, D.C., and
New York City
- A targeted digital campaign
About Consumers' Research:
Consumers'
Research is an independent educational 501(c)(3) nonprofit
organization whose mission is to increase the knowledge and
understanding of issues, policies, products, and services of
concern to consumers and to promote the freedom to act on that
knowledge and understanding. Consumers' Research believes that the
cost, quality, availability, and variety of goods and services used
or desired by American consumers — from both the private and public
sectors — are improved by greater consumer knowledge and
freedom.
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SOURCE Consumers' Research