Tether Engages Big Four Firm for Comprehensive Audit

Tether, the issuer of the USDT stablecoin, has taken a significant step towards greater financial transparency by engaging a Big Four accounting firm to conduct its first full independent audit.

The review will cover Tether's full financial statements, including its reserves, liabilities, and internal controls, marking a shift beyond periodic attestations that have been standard practice in the stablecoin sector.

The company has faced questions over the composition and backing of its reserves, with critics pointing out that previous attestations fell short of comprehensive verification. The audit is expected to provide greater visibility into how Tether's reserves are structured and managed.