The long-anticipated audit could address years of scrutiny over Tether’s reserve disclosures, though the company has not named the accounting firm.
Tether said it has selected — but not named — a “Big Four” accounting firm to conduct its first full audit of reserves, a long-awaited step after years of scrutiny.
In a Tuesday notice, Tether said that the accounting firm — which it did not disclose — would complete a “full independent financial statement audit” for the stablecoin issuer, including for its US dollar-pegged USDt (USDT).
The accounting industry’s so-called “Big Four” are Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers.
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