Consumers' Research Launches Campaign to Warn Consumers about Stablecoin Tether

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