Tether to Undergo First Big Four Audit, Withholds Auditor Name

Tether, the leading stablecoin issuer, will undergo its first full independent financial statement audit by a Big Four accounting firm. The company did not disclose which firm secured the contract.

The audit will verify Tether’s claimed $192 billion in global reserves backing USDT, primarily held in U.S. Treasuries. Since its 2014 launch, Tether has relied on third-party attestations-not full audits-leaving questions about reserve transparency.

The move aligns with requirements under the GENIUS Act, which mandates foreign stablecoin issuers like Tether-based in El Salvador-to conduct rigorous reserve audits.

Last year, Tether launched a U.S.-focused stablecoin, USAT, with $27 million in circulation. Its reserves were audited by Deloitte in January, signaling a precedent for deeper regulatory compliance.