Tether Aims for Big Four Audit to Boost Transparency
Tether is reportedly planning to hire a Big Four auditor for its USDT reserves. CEO Paolo Ardoino announced this move, aiming to enhance trust in the stablecoin.
Reuters reported on March 21,2025,that Tether is in talks with a leading accounting firm. the goal is to audit the company’s USDT reserves. This step could considerably boost confidence in the stablecoin.
Ardoino believes the current U.S. regulatory climate is favorable. He sees it as a chance to address past transparency issues. The Big Four firms include Deloitte, EY, PwC, and KPMG. An audit by one of these prestigious firms could be a game-changer. It would verify that each USDT token is backed by a real dollar. this move comes as the U.S. considers new stablecoin rules. President Trump’s governance views crypto regulation positively. This makes it easier for Tether to secure an audit. The company has faced scrutiny over reserve backing since 2014. The stablecoin issuer is looking to hire a Big Four auditor.
CEO Paolo Ardoino believes the current U.S. regulatory climate is favorable. He sees it as a chance to address past transparency issues. The Big Four firms include Deloitte, EY, formerly Ernst & Young, PricewaterhouseCoopers and KPMG. An audit by one of these prestigious firms could be a game-changer. It would verify that each USDT token is backed by a real dollar.
This move comes as the U.S. considers new stablecoin rules. President Trump’s administration views crypto regulation positively.This makes it easier for Tether to secure an audit. The company has faced scrutiny over reserve backing as the company’s unveiling of the stablecoin in 2014.
The company has weathered most of the criticism since, emerging as one of the most crucial crypto projects in the market. So far, Tether has issued over $140 billion USDT, stating in various attestation reports that every dollar-pegged token is backed 1:1.
But many have pointed to what they call a lack of transparency. Given the latest regulatory developments including in the U.S.,having one of the top accounting and consulting firms take up Tether’s reserves audit may be a huge step forward for the company.
“It’s our top priority,” the Tether exec said. “Now we are living in a landscape where it’s actually feasible.” While Ardoino notes this move is in the pipeline, he did not disclose any specifics with regard to who the stablecoin issuer is talking to, or when the audit may happen.
Reports that Tether is looking to engage a Big Four accounting firm to verify USDT reserves comes as the U.S. heads towards a stablecoin regulation bill.Earlier in the week, in an address at the Digital asset Summit in New York, President Trump urged Congress to pass the stablecoin legislation.
Meanwhile, Tether recently appointed Simon McWilliams as its chief financial officer. As CFO, McWilliams’ role includes heading Tether’s effort to have a full financial audit.
