Until now, Tether has relied on periodic attestations. These reports provide snapshots of reserves but fall short of a full audit. A Big Four audit brings a higher level of scrutiny. It also aligns Tether more closely with standards used in traditional finance.
CEO Paolo Ardoino said the process reflects years of preparation.
Tether’s Chief Financial Officer, Simon McWilliams, added that the firm was selected through a competitive process. He said the company already operates at a level expected by top global auditors.
Tether also said it continues to adjust its reserve structure. The company retains earnings within its ecosystem to support stability. It is also preparing to shift some listed securities as part of ongoing balance sheet management.
FAQ What is Tether’s new audit about? Tether is undergoing its first full financial audit by a Big Four firm to verify its reserves and financial position. How is this different from past reports? Previous reports were attestations. A full audit is more detailed and follows stricter global accounting standards. Why does this matter for stablecoins? It could improve trust and set a higher transparency standard for the entire crypto market. When will the audit be completed? Tether has not given a specific date, but the process is already underway following initial onboarding.
