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Tether recently appointed a new CFO and tasked him with organizing a full financial audit for the company, a "top priority" for the stablecoin issuer.
Stablecoin issuer USDT company Tether intends to hire one of the auditing Big Four firms to verify reserves.
Tether 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 post Tether Collaborates with Big Four Auditor to Verify 1:1 Backing for USDT Stablecoin appeared first on Cryptonews.
Stablecoin issuer Tether is reportedly in talks with a Big Four accounting firm to audit its assets reserves 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.
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.
Recent reports claim that Tether CEO Paolo Ardoino is in talks with the Big Four accounting firms to finally conduct a third-party audit. However, some members of the community are skeptical, citing a lack of firm commitments.
Tether is finally doing the thing it kept saying it would do for years—getting a real audit. CEO Paolo Ardoino confirmed the company is “engaging with a Big Four accounting firm,” though he didn't say which one or when the audit would happen.
Tether is reportedly looking to tap a Big Four auditor for its U.S. dollar pegged stablecoin's reserves.
Critics have raised questions about the stablecoin giant for not being independently audited.
Tether's CEO Paolo Ardoino shared a post on X yesterday that Tether was the seventh-largest buyer of US Treasuries in 2024. The company accumulated $33.1B worth of US Treasury securities last year, outranking countries like Canada, Mexico, and Germany.
Tether, the creator of the world's largest stablecoin, is "engaging with a Big Four accounting firm" as it pushes for a long-awaited audit of its reserves, an effort CEO Paolo Ardoino said will be easier under U.S. President Donald Trump.
Tether purchased $33.1 billion in U.S. Treasuries in 2024, becoming the seventh largest foreign buyer and outpacing several nations while its stablecoin market cap reached $143 billion.
Tether, the issuer of USDT, ranked as the seventh-largest buyer of U.S. Treasury securities in 2024. According to a Mar. 20 post on X by Tether chief executive officer Paolo Ardoino, Tether (USDT) purchased a net $33.1 billion in U.
Tether surpasses Canada and becomes the 7th largest buyer of US Treasury bonds. What are the implications for the crypto market?
Tether surprised the market by announcing that it purchased over $33 billion in Treasury bonds last year. This makes Tether the seventh-largest buyer of US bonds, ahead of countries like Canada, Mexico, and Germany.
The firm said it purchased a net $33.1 billion worth of U.S. Treasury securities last year,
Stablecoins are rapidly evolving beyond their original role as digital cash substitutes, with a new generation of yield-bearing and revenue-sharing models reshaping how these assets are used in financial ecosystems, according to a report. What Happened: The report, by Foresight Ventures, explores how these innovations may soon position stablecoins as a distinct financial asset class, unlocking new forms of passive income and challenging legacy banking models.
Tether accumulates over 33 billion dollars in US bonds
Tether's financial transparency and large US debt purchases make headlines.
This investment surpassed several countries and secured its place among institutional giants. This significant move into U.S. debt markets from Tether underscores the growing influence of crypto firms in traditional finance.
Tether, the $143 billion stablecoin giant, was the world's seventh-largest buyer of United States Treasurys, surpassing some of the world's largest countries.Tether, the issuer of USDt (USDT), the world's largest stablecoin, was the world's seventh-largest US treasury buyer, surpassing Canada, Taiwan, Mexico, Norway, Hong Kong, and numerous other countries. The stablecoin issuer acquired over $33.1 billion worth of treasuries, compared to over $100 billion purchased by the Cayman Island in the first place in global rankings, according to Paolo Ardoino, the CEO of Tether.
Ethereum continues to dominate the stablecoin market, with USDC and USDT accounting for the majority of the $850 billion in transaction volume recorded last month.
Binance's USDT/TRY trading pair saw its highest volatility since April 2024 after Istanbul Mayor Ekrem Imamoglu, a key rival to President Tayyip Erdogan, was arrested.
According to Whale Alert, an on-chain data tracking service, the Tether treasury transferred 1 billion USDT to HTX after minting 1 billion USDT on the Tron network.
