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.
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.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
