The chief executive of the world’s largest stablecoin issuer is reportedly looking to receive an audit from one of the biggest accounting firms in the world.
According to a new report by Reuters, Tether CEO Paolo Ardoino says the company is in talks with one of the Big Four accounting firms – KPMG, Deloitte, EY and PwC – to receive an audit of its reserves, though no specific group was named.
[adinserter block="1"]Tether says it holds dollar-denominated reserves for each USDT token it creates and an audit would help improve the transparency of said reserves, which are currently subject to quarterly reports rather than full-on audits.
Ardoino told Reuters that getting a full audit is a “top priority” for Tether, a task he says will be easier to achieve under President Donald Trump, who recently signed an executive order to establish a crypto strategic reserve.
“It’s our top priority. Now we are living in a landscape where it’s actually feasible…
If the President of the United States says this is a top priority for the US, Big Four auditing firms will have to listen, so we are very happy with that.”
Tether, which has a transparency page on its website dedicated to keeping track of its stablecoin assets and their associated reserves, currently has about $143 billion worth of USDT in circulation at time of writing.
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