MAGA-fueled PR campaign against Tether raises eyebrows as to what’s next
The post MAGA-fueled PR campaign against Tether raises eyebrows as to what’s next appeared on BitcoinEthereumNews.com.
A splashy media campaign linking Tether to crime and corruption is raising questions as to the motivations of the campaign’s U.S. right-wing backers. On June 18, a press release hailed the launch of “a multi-million-dollar campaign targeting Tether,” the company behind USDT, the world’s largest stablecoin by market capitalization. The release called USDT “a so-called stablecoin that is commonly used by the world’s worst actors and attracted well-deserved scrutiny about its legitimacy.” The release was issued by Consumers’ Research, whose executive director Will Hild was quoted saying his group is “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.” Hild went on to say, “We fear that that Tether may very well be the next FTX. Consumers should be weary [sic] of any so-called stablecoin that refuses to properly certify that they actually hold the assets they claim.” The pricey anti-Tether campaign will consist of a TV ad “backed by a seven-figure national buy,” a website (TetheredToCorruption.com), a massive digital billboard in New York’s Times Square, mobile billboards in select cities—including Washington and New York City—plus a targeted digital campaign. The Tetheredtocorruption site is a repository of unflattering articles about Tether recently published by both mainstream media (Wall Street Journal, Bloomberg) and dedicated ‘crypto’ news sites. The site carries a banner reading: “Terrorist financing, fraud investigations, and a close relationship with China. Can you really trust Tether?” The press release was accompanied by the publication of an article on Townhall.com, a U.S. right-wing website, titled Is This the Next FTX? Another article appeared on the Daily Mail website, which ranks among the top-25 sites in the U.K. (top-five among news sites) and in the top-150 globally. The right-leaning Mail garners around 40% of its global audience from…
Filed under: News - @ June 20, 2024 7:16 pm