Tether is reportedly looking to tap a Big Four auditor for its U.S. dollar pegged stablecoin’s reserves.
According to Paolo Ardoino, the chief executive officer of Tether, the company is “engaging” one of the top accounting firm in the world with a view to getting its Tether (USDT) reserves audited.
Reuters highlighted this development in a report published on Friday, March 21, 2025.
Per the report, Ardoino sees the crypto regulatory environment under U.S. President Donald Trump as a positive development for the industry.
Getting a Big Four auditor – the global professional services firms Deloitte, EY, formerly Ernst & Young, PricewaterhouseCoopers and KPMG – to audit Tether’s USDT reserves is possible in the US under Trump, Ardoino noted.
Controversy has surrounded Tether and its reserves since the company’s unveiling of the stablecoin in 2014.
The company has weathered most of the criticism since, emerging as one of the most important crypto projects in the market.
So far, Tether has issued over $140 billion USDT, stating in various attestation reports that every dollar-pegged token is backed 1:1.
But many have pointed to what they call a lack of transparency.
Given the latest regulatory developments including in the U.S., having one of the top accounting and consulting firms take up Tether’s reserves audit may be a huge step forward for the company.
“It’s our top priority,” the Tether exec said. “Now we are living in a landscape where it’s actually feasible.”
While Ardoino notes this move is in the pipeline, he did not disclose any specifics with regard to who the stablecoin issuer is talking to, or when the audit may happen.
Reports that Tether is looking to engage a Big Four accounting firm to verify USDT reserves comes as the U.S. heads towards a stablecoin regulation bill.
Earlier in the week, in an address at the Digital Asset Summit in New York, President Trump urged Congress to pass the stablecoin legislation.
Meanwhile, Tether recently appointed Simon McWilliams as its chief financial officer.
As CFO, McWilliams’ role includes heading Tether’s effort to have a full financial audit.
