Tether Engages Big Four Firm for First Full Independent Audit
Tether, the issuer of the widely used stablecoin USDT, has taken a significant step towards greater transparency by engaging a Big Four accounting firm to conduct its first full independent audit.
The review will cover Tether's full financial statements, moving beyond the periodic attestations that have been standard practice across the stablecoin sector. This is seen as a major shift in how the world's largest stablecoin issuer approaches financial disclosure and oversight.
The audit will examine Tether's reserves, liabilities, and internal controls at a level of scrutiny typically associated with large global financial institutions. The company has long faced questions over the composition and backing of its reserves, and this move is seen as an effort to address some of these concerns.