Tether, the company behind the USDT stablecoin, is pursuing a comprehensive audit of its asset reserves by a Big Four accounting firm (PwC, Ernst & Young, Deloitte, or KPMG). While CEO Paolo Ardoino hasn’t named the specific firm, this move signifies a commitment to greater transparency with the Tether community.
Previously, Tether has published quarterly assessments of its reserves. This full audit is a significant step towards building further confidence in USDT’s stability. Ardoino emphasized this initiative in a recent interview, underscoring the importance of independent verification of Tether’s financial backing. The engagement of a reputable Big Four firm is expected to provide a higher level of assurance and accountability, potentially solidifying USDT’s position in the cryptocurrency market.
