A powerful new attack is unfolding in the United States against Tether, the issuer of the USDT stablecoin.

The main speaker of the campaign is the non-profit organization Consumers' Research, which positions itself as an independent consumer protection company. Those who are familiar with methods of fighting competitors know that behind each “independent non-profit organization” in this case there is a specific commercial interest of a competitor. Very easy to read. Who could it be in this case? Apart from#Cirlewith their #USDC, no one comes to mind. Of course, just guesses. But based on the practice of observing the market and understanding the mechanics of “dirty” campaigns.

Consumers' Research very suddenly became concerned about the work of#Tetherand has already paid for a huge digital billboard in Times Square in New York accusing Tether of company corruption.

They also released a mediocre video saying that “Tether will repeat the fate of FTX.” The USDT issuer is accused of financing terrorism, human trafficking, connections with drug cartels, and connections with the governments of China and the Russian Federation. This is the main set.

Consumers' Research executive Will Hild called Tether "a Ponzi scheme that threatens to become the next crypto disaster."

Potential paid placements have arrived. For now on the Daily Mail, but, of course, we are also waiting on The Wall Street Journal and Reuters.

Against this background,#Tetherthemselves recently announced the launch of a new digital asset - “Alloy, #AUSDT, which will be backed by Tether Gold $XAU₮. Users will be able to mint aUSDT tokens using XAU₮ as collateral.

According to #Tether, all XAU₮ tokens are backed by real physical gold, which is stored in Switzerland.

This, and the April announcement of a major overhaul and diversification of the company's operations, reflects Tether's desire to emerge from the threats associated with focusing solely on a dollar stablecoin in a decidedly hostile environment. If one of the US regulators started an investigation into Tether now (even though the probability is low) - and it would be extremely painful for business. 

We believed and still believe that the portfolio of stablecoins should be diversified. Despite how confident Tether seems to be on its feet. When a large amount is accumulated in it, our portfolio so far looks like this:

-#USDC- 35%,

- #USDТ - 30%,

-#FDUSD(instead of #TUSD) - 28%,

-#USDP- 7%.

We don’t think that such public FUD campaigns are a reason for the collapse of Tether and the depegment of their stablecoin. All high-profile scams on the crypto market usually happen suddenly. One of the company's "safeties" from regulatory attacks is that they hold huge amounts of US government debt. In the first quarter of 2024, Tether received a record profit of $4.52 billion, and of this amount, about $1 billion comes from income from US Treasury bonds.