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Consumers' Research, a US consumer protection organization, released a report on September 12th warning stablecoin issuer Tether of issues with transparency in its US dollar reserves. The organization pointed out that Tether has not yet provided a complete audit conducted by a well-known accounting firm, despite multiple commitments to do so. They also compared this lack of transparency to the situation before the collapse of FTX and issued open letters to governors of various states in the United States, emphasizing the potential risks of Tether. At the same time, Tether actively responded to external doubts by hiring former Chainalysis Chief Economist Philip Gradwell in July this year 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. @drunky
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