Tether Seeks Big Four Auditor for USDT Reserves
Tether, the issuer of the world’s most widely traded stablecoin USDT, is reportedly in talks with a Big Four auditor to conduct a comprehensive audit of its U.S. dollar reserves. CEO Paolo Ardoino confirmed this news in an interview with Reuters on March 21, 2025.
The move is in response to a renewed advocacy for greater openness and trust in the support behind the stablecoin, a factor that has become contentious in the crypto world almost a decade.
Favorable Regulatory Climate Under Trump
Ardoino cited the improvement of the regulatory climate with U.S. President Donald Trump as the key factor driving Tether to seek a high-level audit. “It’s our top priority,” he said. “Now we actually live in an environment where it’s possible.”.
The Big Four audit firms, Deloitte, EY, PwC, and KPMG, have largely avoided auditing crypto firms due to regulatory ambiguity. However, Ardoino believes that given the current political climate, the door may now open for a resolution in Tether’s case.
Overcoming Transparency Challenges
Introduced in 2014, Tether has printed more than $140 billion in USDT tokens, asserting each is backed 1:1 by U.S. dollar reserves. Although the company has released attestation reports from smaller accounting firms, critics have long called for an independent audit by a Big Four global accounting firm.
A successful Big Four audit would go a long way toward alleviating these concerns and bolstering market confidence in the stablecoin.
Leadership Change to Enable Audit Goals
Tether hired newly appointed Simon McWilliams its fresh chief financial officer. McWilliams’ position is to spearhead the auditing campaign and raise the degree of fiscal disclosure in the company’s endeavors.
Legislative Environment Puts Pressure On
This announcement follows in the wake of building momentum in Washington to regulate stablecoins. The President, merely this week, urged Congress to enact a bill that aims to regulate stablecoins.
Tether’s quest for Big Four auditor status could position the company in front of anticipated legal mandates and enhance its stature as regulatory requirements evolve.
