Tether in talks with Big Four accounting firms for reserve audit

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ODAILY
03-21
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Global Stablecoin Leader Tether is in talks with a Big Four accounting firm to advance its long-standing commitment to reserve auditing. Tether has issued over $140 billion in US dollar-pegged cryptocurrency, claiming each token is backed by US dollar-denominated assets, currently only publishing quarterly reports without completing a comprehensive audit. Tether CEO Paolo Ardoino did not disclose the specific firm or audit timeline, stating: "This (audit) is our top priority." Tether appointed Simon McWilliams as Chief Financial Officer earlier this month, responsible for advancing comprehensive financial audits. Meanwhile, Tether continues to strengthen reserve transparency, purchasing over $33.1 billion in US Treasury bonds in 2024, becoming the seventh-largest buyer of US Treasury bonds.

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