Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark has called for a ban on crypto firms offering Tether USDT, describing the stablecoin issuer as a "mammoth house of cards." Stark highlighted concerns over Tether's unaudited reserves and lack of regulatory oversight, stating that the stablecoin issuer could be the next domino to fall. He also criticized Tether's attestation, stating that it cannot replace an audit and leaves more questions about its reserves. Stark urged the U.S. to follow Ontario's lead in banning crypto platforms from offering Tether USDT.