Since stepping into the CEO role in December 2023, Paolo Ardoino has prioritized securing a full audit from a leading global accounting firm. While he confirmed that Tether is in discussions with one of the “Big Four” firms—Deloitte, EY, PwC, or KPMG—he did not specify which one.
This renewed focus on auditing follows the appointment of Simon McWilliams as Tether’s new Chief Financial Officer. With McWilliams on board, the company aims to strengthen its financial credibility and increase institutional engagement. Ardoino has expressed confidence that this audit will reinforce Tether’s position within the U.S. financial system.
The stablecoin issuer has faced regulatory challenges, particularly in Europe. In 2023, exchanges serving the EU removed USDT from their platforms due to the company’s lack of proper licensing under the MiCA regulatory framework.
Managing Tether’s substantial financial reserves is Cantor Fitzgerald, a firm previously led by Howard Lutnick, who now serves as the U.S. Commerce Secretary. Ardoino suggested that shifting political attitudes toward cryptocurrency—especially former President Donald Trump’s supportive stance—could encourage top auditing firms to take Tether’s financial review more seriously. Speaking to Reuters, he noted that if the U.S. government signals that crypto is a priority, major accounting firms will be more inclined to participate in the process.
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Source: https://coindoo.com/tethers-ceo-pushes-for-big-four-audit-to-boost-transparency/