Tether Plans to Hire Big Four Firm for Reserve Audit Amid Regulatory Changes

The issuer of the stablecoin USDT, Tether, is looking to hire one of the «Big Four» auditing firms to verify its reserves. This was reported by Reuters, citing the company’s CEO, Paolo Ardoino.

The firms in question are the largest audit and consulting service providers globally: Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG. According to Ardoino, securing one of these giants will be much easier with the incoming administration of Donald Trump.

«This is our top priority. We now find ourselves in a situation where it’s truly feasible. If the U.S. president declares this as a national priority, the Big Four auditing firms will have to pay attention,» he stated.

Tether currently only releases quarterly reports regarding the backing of USDT. Earlier in March, the company appointed Simon McWilliam as its Chief Financial Officer, emphasizing this as a significant step towards conducting a comprehensive financial audit.

It should be noted that in February, Ardoino remarked that in the long run, the USDT stablecoin will become «essentially worthless,» and «the world will only use Bitcoin.»