Tether eyes Big Four firm for its first full financial audit: Report

Stablecoin issuer Tether is reportedly in talks with a Big Four accounting firm to audit its assets reserves and verify that its USDT (USDT) stablecoin is backed at a 1:1 ratio. Tether CEO Paolo Ardoino reportedly said the audit process would be more straightforward under pro-crypto US President Donald Trump. It comes after rising industry concerns over a potential FTX-style liquidity crisis for Tether due to its lack of third-party audits. Tether to produce first full audit after scrutiny “If the President of the United States says this is top priority for the US, Big Four auditing firms will have to listen, so we are very happy with that,” Ardoino told Reuters on March 21 source: https://cointelegraph.com/news/stablecoin-issuer-tether-big-four-firm-full-reserve-audit-report?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound