Tether is reportedly in discussions with a leading Big Four accounting firm to conduct an audit of its reserves backing the U.S. dollar-pegged stablecoin.
Paolo Ardoino, the CEO of Tether, stated that the company is actively “engaging” one of the world’s top accounting firms to assess its Tether (USDT) reserves.
This update was highlighted in a recent report published on March 21, 2025.
According to Ardoino, the evolving regulatory environment for cryptocurrencies under U.S. President Donald Trump is seen as a positive factor for the industry.
He indicated that the possibility of securing a Big Four auditor—comprising major firms such as Deloitte, EY, formerly known as Ernst & Young, PricewaterhouseCoopers, and KPMG—to examine Tether’s USDT reserves is plausible in the current U.S. landscape.
Since the introduction of its stablecoin in 2014, Tether has faced scrutiny over its reserves.
Despite this, it has managed to overcome much of the criticism and has become one of the most significant projects in the crypto space.
To date, Tether has issued more than $140 billion in USDT, asserting in various attestation reports that each dollar-pegged token is fully backed 1:1.
However, critics have pointed to concerns regarding transparency.
In light of recent regulatory changes in the U.S., having a prominent accounting and consulting firm conduct an audit of Tether’s reserves could be a significant advancement for the company.
“It’s our top priority,” declared the Tether executive. “Now we are in a situation where it’s actually feasible.”
While Ardoino mentioned that this initiative is in the works, he did not provide details about which specific firm is being approached or the timeline for the audit.
The news of Tether’s intent to engage a Big Four accounting firm for USDT reserve verification comes as the U.S. approaches the introduction of a stablecoin regulation bill.
Earlier this week, during the Digital Asset Summit in New York, President Trump called on Congress to advance the stablecoin legislation.
In related news, Tether has recently appointed Simon McWilliams as its chief financial officer.
As CFO, McWilliams will lead Tether’s efforts toward completing a comprehensive financial audit.