Tether Engages Big Four Firm for Historic Full Audit of USDT Reserves

Tether, the issuer of the widely-used USDT stablecoin, 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 periodic attestations that have been standard practice in the stablecoin sector. This marks a shift towards a more rigorous reporting framework, which could provide greater visibility into how USDT's reserves are structured and managed.

The audit is expected to examine Tether's reserves, liabilities, and internal controls at a level of scrutiny typically associated with large global financial institutions. The company has faced questions over the composition and backing of its reserves in the past, and this move is seen as an effort to address these concerns.