Tether Seeks Big Four Firm for Reserve Audit

Tether, the issuer of the USDT stablecoin, plans to hire one of the Big Four auditing firms to verify its reserves. This was reported by Reuters, citing the company’s head, Paolo Ardoino.

The firms in question are the world’s largest providers of audit and consulting services: Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG. According to Ardoino, engaging one of these giants will be significantly easier following the rise to power of Donald Trump’s administration.

“This is our main priority. We now live in conditions where this is truly feasible. If the President of the United States says this is a top priority for the country, the Big Four auditing firms will have to listen,” he stated.

Tether only publishes quarterly reports on USDT backing. In early March, the company appointed Simon McWilliams as Chief Financial Officer, stating that this is an important step towards conducting a full financial audit.

Back in February, Ardoino noted that in the long term, the USDT stablecoin will become “useless,” and “the world will use only Bitcoin.”