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Digital asset company Tether is working with a Big Four accounting firm to conduct its first comprehensive independent financial audit, the digital asset giant said Tuesday.
Tether Signs Big Four Firm to Complete First Full Audit, Setting a New Quality Standard for the Digital Asset Economy.
Tether (@tether) March 24, 2026
But the size and complexity of its reserves, including crypto assets, traditional financial instruments and tokenized liabilities, could be the largest audit in history,” Tether said.
The move, according to the firm, is aimed at increasing transparency and confirms Tether’s position as a leading institution in global digital finance.
Tether CEO Paolo Ardoino said ‘Tether’s mission has always been to trust by action, not promises. When institutions are willing to be openly viewed, trust is built when they want to see the whole thing.’ The phrase “Trust” was written in response to an article that said ‘The only one who has been asked about this question and would like to know what it means for them not to have seen by anyone else? Paraphrasingr ’It is.
The stablecoin giant has not revealed which one of the Big Four firms is participating.
This audit is a year of working for our systems to ensure Tether can meet the highest standards in global finance, > “This audit” means that we are strengthened so as not only does it have any problems. The audit, which is not just a compliance exercise for $USDT every day and hundreds of millions of people and businesses that use the money they depend on, is about accountability resilience and confidence in the infrastructure they trust,” he said.
The GENIUS Act and regulatory pressure
A market cap of over $184 billion and user base above 550 million worldwide is Tether’s $USDT, which dominates the stablecoin industry.
This is a profitable stablecoin, which has been under constant scrutiny transparency, legal compliance, reserve composition and centralization risks keeping it under watch of regulators and market participants.
A new requirement is imposed on large stablecoin issuers under the July 2025 law-enforced GENIUS Act, which requires mandatory monthly reserve attestations and annual independent audits of their own companies.
While Tether had relyed on regular reports of attestations rather than full audits, the law turned what it stated was intended into an obligation to file legal proceedings.
Tether’s history with reserve transparency
Founded in 2014, Tether began to grow quickly with the sale of traders a dollar-pegged token that could be used across exchanges and blockchain networks.
The Commodity Futures Trading Commission fined Tether $41 million in 2021 for misrepresenting its reserves. Several years later, the company had claimed full cash backing when much of its reserves actually consisted of commercial paper and other less liquid instruments.
The hiring of Simon McWilliams as chief financial officer in early 2025 was aimed at preparing for an audit.
The decision was made by a competitive process for selecting the organisation, which is already running at Big Four audit standard; the Audit will be delivered,’ said > “The Big four Firm”.
Financial and law enforcement cooperation
Tether reported net profits of more than $10 billion in 2025, down from around $13 billion during 2024. In addition, the company has praised its partnership with international police officers “Approximately $4” is about $. A total of $USDT 2 billion in the illicit activity is frozen, as it has been linked to a freeze on illegal activity.
Deloitte in January 2026 confirmed Tether’s USAT stablecoin maintained more than 100% support, citing the company as evidence of audit-readiness across the organization.
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