According to Bloomberg, Tether Holdings SA received an audit opinion from Deloitte on its first reserve report for its US-market stablecoin, USAT. The report, provided by Anchorage Digital Bank NA, shows that as of the reporting date, there were 17.5 million redeemable USAT in circulation, corresponding to reserve assets of $17.6 million. Tether CEO Paolo Ardoino previously stated that the "Big Four" accounting firms were unwilling to provide auditing services due to potential reputational risks; in 2021, Tether paid a $41 million fine to settle with US regulators regarding its reserve disclosure issues.
Tether receives the first USAT reserve report verification opinion from Deloitte.
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