Tether has announced plans to undergo its first full independent audit of reserves backing its flagship stablecoin, USDT, marking a significant step toward increased transparency.
The company said it has selected one of the “Big Four” accounting firms, Deloitte, Ernst & Young, KPMG, or PricewaterhouseCoopers, through a competitive process, though it has not disclosed which firm will conduct the review.
According to Tether, the audit will include a comprehensive examination of its assets, reserves, and tokenized liabilities, along with an evaluation of internal controls and financial reporting systems. CEO Paolo Ardoino emphasized that the initiative is aimed at strengthening confidence among the millions of users and businesses relying on USDT.
With a market capitalization of roughly $184 billion, USDT remains the largest stablecoin, significantly ahead of USDC issued by Circle. However, competition has intensified, with USDC recently surpassing USDT in transaction volume for the first time in years.
Tether maintains that its tokens are fully backed 1:1 by reserves, which include US Treasurys, Bitcoin, gold, and other assets. Still, questions around the composition and stability of these reserves have persisted.
The move toward a full audit comes amid increasing regulatory scrutiny and evolving legal frameworks for stablecoins in the United States. By engaging a top-tier accounting firm, Tether appears to be taking a proactive step to address long-standing concerns and reinforce its position in the global crypto market.
Disclaimer: CoinScreamer is an independent media brand owned and operated by NuvexMedia LLC, publishing news, research, and market insights on digital assets and related technologies. NuvexMedia LLC invests in and collaborates with companies across the digital asset, blockchain, and technology sectors. These relationships do not influence CoinScreamer’s editorial coverage, and the publication maintains full editorial independence to provide accurate, timely, and objective information. © 2025 NuvexMedia LLC. All rights reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or other professional advice.
