Tether is reportedly looking to tap a Big Four auditor for its U.S. dollar pegged stablecoin’s reserves.
Tether’s chief executive officer, Paolo Ardoino, has stated that the company is “engaging” one of the most prestigious accounting firms in the world to have its Tether reserves audited.
The move is in consideration of the fact that Tether is a cryptocurrency. On Friday, March 21, 2025, Reuters came out with a report that highlighted this new development.
According to the study, Ardoino considers the regulatory framework surrounding cryptocurrencies established by President Donald Trump of the United States to be a favorable development for the business.
Ardoino pointed out that it is conceivable for a Big Four auditor to conduct an audit of Tether’s USDT reserves in the United States under the administration of President Trump.
The Big Four auditors are the global professional services organizations Deloitte, EY (formerly Ernst & Young), PricewaterhouseCoopers, and KPMG. Considering that the business first introduced the stablecoin in 2014, Tether and its reserves have been the subject of controversy ever since.
The company has since overcome most of the criticism and become one of the biggest cryptocurrency projects. As of right now, Tether has distributed well over 140 billion USDT, and according to several attestation reports, each dollar-pegged token is backed by one dollar.
However, several people have brought out what they refer to as a lack of transparency. For Tether, having a top accounting and consulting firm audit its reserves might be a significant step forward, especially given recent regulatory changes, including those in the United States.
He did not provide any specifics regarding who the stablecoin issuer is talking to or when the audit may take place, although Ardoino has mentioned that this move is now in action.
Tether is reportedly considering hiring a Big Four accounting firm to verify its USDT reserves, while the United States moves closer to passing a bill to regulate stablecoins.
In an address that he delivered earlier in the week at the Digital Asset Summit in New York, President Trump asked Congress to enact the legislation that would ensure the stability of stablecoins.
In the meantime, Tether has recently promoted Simon McWilliams to the position of chief financial officer. As Chief Financial Officer, McWilliams is responsible for leading Tether’s efforts to conduct a comprehensive financial audit.
