Tether CEO Paolo Ardoino reportedly said a full audit is a “top priority” as the firm looks to enlist a Big Four accounting firm for the task following recent criticism.
Stablecoin issuer Tether is reportedly engaging with a Big Four accounting firm to audit its assets reserve and verify that its USDT (USDT) stablecoin is backed at a 1:1 ratio.
Tether CEO Paolo Ardoino reportedly said the audit process would be more straightforward under pro-crypto US President Donald Trump. It comes after rising industry concerns over a potential FTX-style liquidity crisis for Tether due to its lack of third-party audits.
“If the President of the United States says this is top priority for the US, Big Four auditing firms will have to listen, so we are very happy with that,” Ardoino told Reuters on March 21.
