Tether, the issuer behind the world’s largest stablecoin USDT, is reportedly working with a Big Four accounting firm to conduct an audit of its reserves and confirm that each token is backed 1:1 with assets.
The move comes amid growing industry pressure for transparency, especially in light of past controversies surrounding the company’s claims.
Speaking to Reuters on March 21, Tether CEO Paolo Ardoino said that a full audit is a top priority for the firm.
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Tether, the issuer behind the world’s largest stablecoin USDT, is reportedly working with a Big Four accounting firm to conduct an audit of its reserves and confirm that each token is backed 1:1 with assets.
The move comes amid growing industry pressure for transparency, especially in light of past controversies surrounding the company’s claims.
Speaking to Reuters on March 21, Tether CEO Paolo Ardoino said that a full audit is a top priority for the firm.
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