Tether Considering Major Audit Firm from 'Big Four' for Reserve Review: CEO

Tether is reportedly seeking the services of one of the Big Four auditors for its US dollar-pegged stablecoin's reserves.

According to Paolo Ardoino, the CEO of Tether, the company is currently "engaging" with one of the world's leading accounting firms with the aim of getting its Tether (USDT) reserves audited.

Reuters reported this development in an article published on Friday, March 21, 2025.

The report indicates that Ardoino views the regulatory environment for cryptocurrencies under U.S. President Donald Trump as a positive development for the industry.

Ardoino stated that getting a Big Four auditor - which includes the global professional services firms Deloitte, EY, formerly Ernst & Young, PricewaterhouseCoopers, and KPMG - to audit Tether's USDT reserves is possible in the US under Trump's administration.

Tether and its reserves have been the subject of controversy since the launch of the stablecoin in 2014.

Despite facing criticism, the company has emerged as one of the most significant cryptocurrency projects in the market.

To date, Tether has issued over $140 billion USDT, stating in various attestation reports that each dollar-pegged token is backed 1:1.

However, some have criticized the company for what they perceive as a lack of transparency.

Given the recent regulatory developments, including those in the U.S., having one of the leading accounting and consulting firms conduct Tether's reserves audit could be a significant step forward for the company.

"It's our top priority," the Tether executive said. "Now we are in a landscape where it's actually feasible."

While Ardoino acknowledges that this move is in the works, he did not provide any details regarding which firm Tether is in talks with or when the audit may take place.

The reports that Tether is looking to engage a Big Four accounting firm to verify USDT reserves come as the U.S. moves towards a stablecoin regulation bill.

Earlier in the week, at the Digital Asset Summit in New York, President Trump urged Congress to pass the stablecoin legislation.

Meanwhile, Tether recently hired Simon McWilliams as its chief financial officer.

As CFO, McWilliams' role includes leading Tether's efforts to have a full financial audit.