Tether Engages Big Four Firm for First Full Audit

• Tether engages Big Four firm for first full audit, expanding beyond attestations to review reserves and systems.

• Audit covers $184B USDT backing, including digital assets, traditional reserves, and internal controls.

• Move aims to boost transparency, supported by new CFO and strengthened financial reporting framework.

Tether has formally engaged a Big Four accounting firm to conduct its first full independent financial audit, marking a major step for the stablecoin issuer. The company announced the move recently as it seeks deeper financial scrutiny. The audit will examine reserves, systems, and reporting tied to its $184 billion USDT circulation.

Audit Scope And Process Details

According to Tether, the audit will cover a complex mix of digital assets, traditional reserves, and tokenized liabilities. The company stated that onboarding began weeks ago, with audit firms reviewing internal systems and controls.

Notably, several firms showed interest during the selection process due to Tether’s scale. The review includes close coordination with stakeholders across the business. Tether said this engagement goes beyond standard attestations commonly used by stablecoin issuers.

In addition, the company plans to move listed securities in the coming days. These adjustments form part of broader reserve management efforts ahead of the audit.

Leadership And Internal Preparations

Tether highlighted internal changes that supported this process. The company appointed Simon McWilliams as Chief Financial Officer in early 2025. According to Tether, his role focused on strengthening financial reporting and audit readiness.

McWilliams stated that the selected firm followed a competitive evaluation process. He added that Tether already operates at a standard aligned with major audit requirements.

Meanwhile, CEO Paolo Ardoino addressed the audit’s purpose. He said the company built systems over several years to meet strict financial standards. He emphasized that the audit will provide deeper scrutiny of operations and reserves.

Reserves, Transparency And Market Position

Tether reported that it continues to retain earnings within its ecosystem. These funds remain available to support USDT stability and liquidity. The company also holds resources in affiliated entities to provide additional balance sheet flexibility.

At the same time, Tether noted ongoing transparency updates and compliance efforts. It stated that it has worked with law enforcement to identify illicit activity and freeze funds when necessary.

The audit will provide a detailed view of reserve composition and financial positioning. According to Tether, this process reflects its broader focus on operational oversight and reporting standards.