TL;DR

Tether is negotiating with one of the world’s top four accounting firms (PwC, EY, Deloitte, or KPMG) to conduct a full, independent audit of its USDT reserves.
CEO Paolo Ardoino states that the current regulatory environment in the U.S. under Donald Trump’s leadership is more favorable for completing such an audit.
The company is strengthening its transparency strategy through key partnerships and leadership changes, including a collaboration with Cantor Fitzgerald and the appointment of a new CFO.

Tether, the company behind the world’s largest stablecoin, USDT, is taking a major step toward improving financial transparency and credibility. According to recent statements from CEO Paolo Ardoino, the firm is in advanced discussions with one of the “Big Four” accounting firms, PwC, EY, Deloitte, or KPMG, to conduct a full and independent audit of its reserves. While the specific firm has not yet been named, this move signals a significant shift in the company’s commitment to openness and regulatory compliance.

At present, Tether publishes quarterly attestation reports, but these fall short of the rigor expected from a full financial audit. A successful audit from one of the Big Four would be a first for the company and could have a transformative effect on its reputation—particularly among institutional investors and global regulators.

A More Favorable Regulatory Environment and Proactive Leadership

Ardoino also emphasized that the regulatory climate in the United States has become more promising under Donald Trump’s administration, which has expressed more crypto-friendly views. This new landscape contrasts sharply with what the industry referred to as “Operation Chokepoint 2.0,” a period of intense regulatory scrutiny during the previous government.

Since relocating its headquarters to El Salvador, the most Bitcoin-friendly nation in the world, Tether has been steadily reinforcing its internal structure. One of the most significant moves in this effort has been the appointment of Simon McWilliams as the company’s new Chief Financial Officer (CFO), who now leads the push for a full audit long demanded by the crypto community and institutional investors.

Strategic Alliances and Multi-network Expansion

Tether has also partnered with Cantor Fitzgerald, one of the most respected financial asset custodians in the U.S., led by newly appointed U.S. Secretary of Commerce, Howard Lutnick. This partnership brings additional security and credibility to the management of the assets backing each USDT in circulation.

With over $143 billion issued and presence on blockchains such as Ethereum, Tron, Solana, and soon Bitcoin, Tether continues to dominate the stablecoin market. Should it succeed in completing this audit, the company would further solidify its standing as one of the most robust pillars of the global crypto ecosystem.

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Filed under: News - @ March 24, 2025 2:24 pm