According to BlockBeats, on September 13, the U.S. consumer protection organization Consumers' Research released a report on September 12, warning that stablecoin issuer Tether has problems with the transparency of its U.S. dollar reserves.
The group noted that Tether has yet to provide a full audit by a reputable accounting firm, despite multiple promises to do so. They also compared this lack of transparency to the situation before FTX collapsed, and issued an open letter to U.S. governors, highlighting the potential risks of Tether.
At the same time, Tether actively responded to external doubts. In July this year, it hired former Chainalysis chief economist Philip Gradwell to provide a USDT usage report, and announced in August that it would assist law enforcement agencies in recovering $108.8 million in USDT related to illegal activities.
