Tether hires a 'Big Four' firm for a full audit of USDT reserves
Analysis
Price Impact
HighA full audit by a 'big four' firm significantly enhances transparency and trust in usdt reserves. this addresses long-standing concerns about the backing of the stablecoin, which could lead to increased adoption and stability, potentially drawing more capital into the stablecoin market.
Trustworthiness
HighPrice Direction
BullishIncreased trust and transparency from a full audit are likely to boost demand for usdt. as a major stablecoin, a more secure perception of usdt can lead to greater usage in trading and defi, pushing its price and utility upwards.
Time Effect
LongThe full impact of a comprehensive audit will likely unfold over the medium to long term as the market digests the findings, regulatory bodies assess the results, and increased institutional adoption takes hold.
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Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Tether hires a 'Big Four' firm for a full audit of USDT reserves The audit aims to address long-standing questions over USDT reserves and push new disclosure standards. By Krisztian Sandor | Edited by Stephen Alpher Mar 24, 2026, 1:24 p.m. Make us preferred on Google Tether CEO Paolo Ardoino (Nikhilesh De/CoinDesk) What to know : Tether has hired a Big Four accounting firm to conduct its first full financial statement audit of the reserves backing its $184 billion USDT stablecoin. The company, which has previously released only periodic attestations, said the audit will involve a detailed review of its assets, liabilities, controls and reporting systems. Tether did not name the firm but said it was chosen through a competitive process, amid longstanding criticism and scrutiny over whether USDT is fully backed one-to-one by liquid reserves. Tether, the crypto company behind the most popular stablecoin USDT, said Tuesday it has selected a "Big Four" auditing firm to conduct its first full financial statement audit. "The Big Four Firm was selected through a competitive process because the organisation is already operating at Big Four audit standard," said Simon McWilliams, Chief Financial Officer of Tether. "The audit will be delivered." The company has long published periodic attestations of the assets backing the value of its $184 billion U.S. dollar stablecoin USDT. A full audit goes further: It requires a detailed review of assets, liabilities, controls and reporting systems. Tether did not name the firm that will complete the audit. The Big Four term is used for top accounting firms Deloitte, EY, KPMG, and PwC. The move follows years of criticism over whether Tether has fully demonstrated that USDT is fully backed by reserves. The company says its holdings consist largely of U.S. Treasury bills, along with smaller allocations to gold, bitcoin and a range of loans. That mix has drawn scrutiny from critics who question the liquidity and risk profile of some assets, especially during periods of market stress. Stablecoins Breaking News More For You ParaFi defies crypto market downturn with $125 million raise for new fund: Bloomberg By Francisco Rodrigues | Edited by Sheldon Reback 49 minutes ago The firm now manages about $2 billion, having already raised an additional $325 million for existing crypto investment strategies since last year. What to know : ParaFi raised $125 million for a new venture fund focused on stablecoins, tokenization and onchain financial products for institutions. The firm now manages about $2 billion, having already raised $325 million for existing crypto investment strategies since 2025, and has backed companies including Polymarket, Bitwise and Anchorage. While the fundraise comes during a challenging period for the industry, with bitcoin down 26% from this year's high, investors appear to be increasingly focused on the long-term potential of blockchain-based financial infrastructure. Read full story Latest Crypto News Bitcoin may have already bottomed out near $60,000. Here’s why. 7 minutes ago Solana Foundation taps Mastercard, Western Union, Worldpay for institutional developer platform 25 minutes ago Coinbase says the 'second wave' of institutional money for crypto is here and it is all about yield 42 minutes ago Wall Street broker Bernstein calls bitcoin bottom, keeps $150,000 year-end target 42 minutes ago ParaFi defies crypto market downturn with $125 million raise for new fund: Bloomberg 49 minutes ago New York Stock Exchange taps Securitize to build its tokenized stock platform 54 minutes ago Top Stories Bitcoin finds stability at 2023 investor cost basis, echoing past cycle 1 hour ago Bitcoin leads crypto rebound to $71,000 as $550 million in shorts liquidated 2 hours ago Balancer Labs will shut down as corporate entity became 'a liability' after $110 million exploit 6 hours ago Here’s how Treasuries could shape Trump’s Iran war and bitcoin moves 5 hours ago Bitcoin's mining concentration just showed up in a rare 2-block reorg 8 hours ago The $75,000 line in the sand: What it’ll take for bitcoin to go "full bull" 2 hours ago