TechFlow reported on March 22, according to Reuters, that Tether, the world's largest stablecoin issuer, is "engaging with one of the Big Four accounting firms" to advance long-awaited audits of its reserves. Paolo Ardoino, CEO of Tether, said this process will become easier under U.S. President Donald Trump.
Tether has issued over $140 billion worth of dollar-pegged cryptocurrency and has stated for years that it would release audit reports. The token aims to maintain a constant value, which Tether says it achieves by holding dollar-denominated reserves for each token created.
"This is our top priority," Ardoino said, "and now we are in an environment where it's actually feasible." Ardoino did not specify which of the Big Four accounting firms (PwC, EY, Deloitte, or KPMG) Tether is in talks with, nor would he disclose when the audit would take place.
