Tether hires Big Four firm for USDT reserves audit

Tether has appointed a Big Four accounting firm to perform its inaugural full financial statement audit for the reserves backing its $184 billion USDT stablecoin. This significant step is intended to resolve persistent concerns and criticism regarding the transparency and backing of USDT. The comprehensive audit will scrutinize Tether's assets, liabilities, and internal controls, surpassing previous attestations. While the specific firm remains undisclosed, Tether emphasized that the chosen auditor already adheres to Big Four standards, signaling a commitment to enhanced financial disclosure and regulatory compliance within the stablecoin market.