Tether is reportedly discussing with a Big Four accounting firm to audit its U.S. dollar-pegged stablecoin (USDT) reserves, marking a potential milestone in transparency efforts.
According to CEO Paolo Ardoino, the company is actively engaging a top-tier auditor, a move he says is now feasible under President Donald Trump’s crypto-friendly regulatory environment.
Since its launch in 2014, Tether has faced ongoing scrutiny over its reserves backing USDT. While the company has issued over $140 billion USDT, critics have long called for a full financial audit instead of periodic attestation reports.
Ardoino emphasized that securing an audit from Deloitte, EY, PwC, or KPMG—the Big Four—is now a top priority, though he did not reveal which firm Tether is in talks with or when the audit might take place.
The push for an audit coincides with upcoming stablecoin regulation in the U.S. Earlier this week, President Trump urged Congress to pass a stablecoin bill, adding further pressure on issuers to enhance transparency.
Meanwhile, Tether recently appointed Simon McWilliams as Chief Financial Officer (CFO), with a key focus on leading the company’s full financial audit efforts.
If finalized, a Big Four audit could be a major step toward addressing transparency concerns and solidifying Tether’s credibility in the crypto industry.
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