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"Next FTX" - Non-profit organization launches new advertisement campaign with a million-dollar budget to criticize Tether

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"Next FTX" - Non-profit organization launches new advertisement campaign with a million-dollar budget to criticize Tether

The non-profit organization Consumers' Research recently set its sights on the increasingly prominent stablecoin Tether, claiming that the unaudited Tether could be the next FTX.

Breaking down the Forbes report: Tether's declining profits, confusing the public with different indicators

Non-Profit Organization Launches New Ad Criticizing Tether

The California-based non-profit organization Consumers’ Research has recently launched a multi-million dollar advertising campaign to criticize Tether's business practices through various forms of media such as television and billboards.

The ad, which claims to cost millions of dollars, will be a 30-second spot to be aired on digital billboards in Times Square, as well as on mobile billboards in New York and Washington D.C.

The core slogan of the ad reads:

Will Tether be the next FTX?

Consumers’ Research, established in 1929, is a non-profit educational organization founded under U.S. tax laws and primarily supported by religious and conservative groups. The organization's other activities include its "anti-ESG movement" and serving as a public reporting channel for corporate misconduct.

Will Tether Become the Next FTX?

According to Consumers’ Research's press release, Executive Director Will Hild stated:

Over the past 95 years, the technology behind cryptocurrency has likely undergone significant 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 warning signs such as a decade-long refusal to undergo audits. We are concerned that Tether may very well become the next FTX, and consumers should reject such stablecoins.

Consumers’ Research has set up a website called "TetheredToCorruption.com," which covers past negative reports on Tether from mainstream media outlets such as The Wall Street Journal and Bloomberg. However, these are all known information, and there is no new insider information to support Consumers’ Research's claims.

Non-Profit Organization: Tether Keeps Saying Audit is Almost Complete

Will Hild continues to criticize Tether on Twitter, quoting a 2021 interview where:

At that time, Tether's General Counsel Stuart Hoegner had 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?

Top four global accounting firms dare not take on Tether's audit, Tether CEO: Actively building relationships