Catenaa, Monday, March 24, 2025-Tether, the world’s largest stablecoin issuer, is working to secure a full audit from a ‘Big Four’ (Deloitte, Ernst & Young (EY), KPMG, PricewaterhouseCoopers), according to CEO Paolo Ardoino, a report said.
According to a Reuters report the company recently appointed Simon McWilliams as CFO, signaling its push for financial transparency.
The firm did not disclose which auditing firm it is engaging with but emphasized that an audit is a “top priority.”
Tether’s push for a full audit comes after its USDT stablecoin was widely delisted from European exchanges following the EU’s MiCA regulation, which requires proper licensing.
The company’s treasury holdings are largely managed by Cantor Fitzgerald. Ardoino noted that former President Donald Trump’s pro-crypto stance could influence major auditing firms to take Tether’s request seriously.
“With McWilliams’ leadership, we are moving decisively toward a full audit, reinforcing our role in supporting U.S. financial strength and expanding institutional engagement,” Ardoino said.
Tether did not immediately respond to requests for further comment.
