Mars Finance News: According to Reuters, the world's largest stablecoin issuer 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 that each token is backed by US dollar-denominated assets. Currently, the company only publishes quarterly reports and has not completed a comprehensive audit. Tether CEO Paolo Ardoino did not disclose the specific accounting 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 a comprehensive financial audit. 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.
Tether in talks with Big Four accounting firms for reserve audits
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