Tether has agreed with a Big Four auditing firm to conduct its first full audit. The review will cover reserves, internal processes, and reporting systems.
Previously, the USDT issuer only published attestations — reports that show the state of assets at a specific point in time. The new format means a full review of the entire financial model, including operations and internal controls.
The company admits that the structure of its reserves — a mix of traditional assets and digital instruments — makes the audit more complex. However, the auditor has already been selected, and the preliminary assessment is complete: specialists have already reviewed internal systems, documentation, and risk management approaches.
“The absence of a full audit has long been the main criticism. Now Tether is moving toward a review that should provide a detailed picture of USDT reserves — the largest stablecoin with a market capitalization of over $184 B,” the press release states.
As part of the audit preparation, the company is strengthening its finance team and reallocating part of its assets, including publicly traded securities, to simplify the verification process and improve transparency.