Tether (USDT) Says It Selected a 'Big Four' Firm for Its First Audit
Tether hired a Big Four firm to audit its $184 billion stablecoin reserves, enhancing transparency after years of regulatory scrutiny and criticism.
- On Tuesday, Tether announced it has engaged a Big Four accounting firm to conduct its first full audit of the $184 billion stablecoin USDT.
- Tether has long faced criticism over transparency and whether its stablecoins are fully backed by reserves, prompting this move toward external validation.
- "Tether's mission has always been to build trust through action, not promises," CEO Paolo Ardoino said, as the firm selected a Big Four partner through a competitive process.
- Since President Donald Trump took office, Tether has benefited from more lenient regulation in Washington and recently launched USAT, a stablecoin designed to be compliant with U.S. regulations.
- Five years ago, regulators fined the company $41 million for falsely claiming its stablecoins were fully backed by fiat currencies; three years later, the Department of Justice investigated it for sanctions violations.
38 Articles
38 Articles
Tether announces it has brought on a Big Four firm to conduct long awaited audit
Tether, the world’s largest stablecoin company, announced on Tuesday that it has signed a Big Four accounting firm to complete its first full audit. The move stands to give the company, which has long faced criticism over its lack of transparency, a stamp of legitimacy. In a statement, Tether announced that the audit will review Tether’s assets, liabilities, and reserves and be conducted by one of the Big Four—a term that describes Deloitte, EY…
Tether Taps Big Four Accounting Firm for Inaugural Audit
Stablecoin issuer Tether says it has engaged a “Big Four” accounting firm for its inaugural audit. The company’s “first full independent financial statement audit” is “slated to be the biggest ever inaugural audit in the history of financial markets,” Tether said in a Tuesday (March 25) news release. Tether’s USDT coin has a market capitalization of a little more than $184 billion, making it the largest stablecoin. The “Big Four” are t…
INSTITUTIONAL | The Largest Stablecoin Company Secures a ‘Big Four’ Audit Firm for the First Full Audit
Tether, issuer of the world’s largest stablecoin, USDT, has taken a decisive step toward addressing long-standing transparency concerns by appointing a “Big Four” accounting firm to conduct its first full independent audit of reserves, marking a potential turning point for the digital asset industry. The company said the audit will comprehensively review its assets, liabilities, reserves, internal controls, and financial reporting systems – goin…
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