Consumers' Research launched a campaign against USDT stablecoin issuer Tether on Tuesday, accusing the company of being a threat to consumers and raising questions about it being the next FTX.
A digital billboard accusing Tether of corruption was featured in Times Square. Historically, stablecoins often depeg following controversies surrounding respective parent companies. Tether recently launched a new synthetic dollar backed by gold. Consumers' Research launched a campaign against USDT stablecoin issuer Tether on Tuesday, accusing the company of being a threat to consumers and raising questions about it being the next FTX.
63% of Tether volume was linked by TRM to illicit activity, compared to 0.05% of USDC, the report stated. Read more:Global Ethereum ETFs experience surge in net inflows as Hashdex files for combined spot ETH and Bitcoin ETF Meanwhile, Consumers' Research launched several other campaigns claiming to expose the largest stablecoin issuer for its affiliations with these bad actors.
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