- Tether aims for its first full audit of USDT reserves with a Big Four firm to bolster transparency and address stability concerns.
- CEO Paolo Ardoino has cited pro-crypto policies, including Trump’s executive order and the GENIUS Act, as key enablers for the audit.
- Global regulations are pushing Tether to enhance its audit practices amid licensing challenges.
Paolo Ardoino, CEO of the largest stablecoin issuer, Tether (USDT), says the company wants to secure a full audit of its USDT reserves from one of the “Big Four” accounting firms: KPMG, Deloitte, EY, or PwC.
No specific firm has been named yet, but Ardoino believes Tether’s chances of obtaining a high-profile audit have improved since President Donald Trump signed an executive order establishing a strategic crypto reserve.
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Transparency is Tether’s Top Priority, Says CEO
While being one of the top companies in revenue terms and issuing quarterly reserve reports, it has never undergone a full audit. As per a report from Reuters, Ardoino emphasised that achieving complete transparency is now the company’s “top priority” (after several years):
“It’s our top priority. Now we are living in a landscape where it’s actually feasible.”
Paolo Ardoino, Tether CEOArdoino stated that an audit becomes more realistic under Trump’s administration, which has committed to overhauling digital asset regulations and establishing a strategic crypto reserve.
This comes as the GENIUS Act takes place in the US. This is a proposal that would mandate stablecoin issuers be audited and hold reserves in conservative assets like Treasury bonds. Noncompliant issuers could be barred from US markets.
Not only in the US but regulation worldwide is affecting how crypto companies operate. For example, new rules under the Markets in Crypto-Assets (MiCA) framework require stablecoin issuers to register with local regulators and meet tough standards for reserve transparency.
Needless to say, Tether has yet to obtain the necessary licenses, prompting exchanges such as Crypto.com and others to delist USDT for EU users.
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