Tether Seeks Big Four Audit to Verify USDT Reserves Amidst New Regulatory Climate

The issuer of the stablecoin USDT, Tether, plans to engage one of the «Big Four» auditing firms to verify its reserves. This was reported by Reuters, citing CEO Paolo Ardoino.

The «Big Four» refers to the world’s largest providers of audit and consulting services: Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG. According to Ardoino, enlisting one of these firms will be significantly easier with the new administration under Donald Trump.

«This is our top priority. We are now in a situation where this is truly feasible. If the President of the United States declares that this is a national priority, the Big Four auditing firms will have to take note,» he stated.

Tether only releases quarterly reports regarding the backing of USDT. Earlier in March, the company appointed Simon McWilliam as Chief Financial Officer and noted that this is an important step towards conducting a comprehensive financial audit.

It’s worth mentioning that in February, Ardoino pointed out that in the long run, the USDT stablecoin will become «obsolete,» and «the world will only use Bitcoin.»