Nonprofit Launches Multi-Million Dollar Ad Campaign Criticizing Tether

Consumers' Protection, a California-based nonprofit, has launched a multimillion-dollar advertising campaign questioning the business conduct of the Tether stablecoin. The campaign, promoted through TV ads and billboards, questions whether Tether will become the next FTX and points to the risk that its reserves are unaudited.
Consumers' Protection will set up digital billboards in New York's Times Square and use mobile billboards in New York and Washington DC. Executive director Will Hild said consumers should be wary of stablecoins that fail to properly prove their assets. Despite the rapid growth in corporate interest in stablecoins, less than 10 per cent of transactions are actually completed by consumers.
Consumers' Protection was founded in 1929 and is supported primarily by religious and conservative groups.