Tether (USDT) Is in Talks With Multiple 'Big Four' Accounting Firms to Pursue a Full Financial Audit

In a significant development, Tether is actively engaged in discussions with several "Big Four" accounting firms to undertake a comprehensive financial audit, according to CEO Paolo Ardoino.

During an interview with Benzinga, Ardoino revealed that these talks follow a dramatic shift in stance by the auditing firms, who previously kept their distance from working with cryptocurrency companies.

“There is a 180 degrees change. Last year, we had these firms not interested and now we have them contacting us and being very open. We are going through the onboarding process with several of them,” Ardoino said.

He explained that the shift has coincided with political changes in the U.S.

“It’s happened because of the administration of Trump. Before, you had Senator Warren attacking the big four audit firms because they were servicing crypto companies and now things are changing,” he added.

Ardoino was referring to comments made last year by Senator Elizabeth (D-Mass.), who expressed skepticism about the auditing firms' role in overseeing crypto firms.

However, Ardoino said that the company's efforts are now supported by a new chief financial officer, who was appointed earlier this year.

“He went through multiple complex audits, also for public companies. We are really committed to it,” Ardoino said.

The audit talks also come as Tether is set to release its latest attestation, which shows the company generated $13.7 billion in profits in 2024, largely from interest earned on U.S. Treasuries.

The firm now holds nearly $120 billion in short-term Treasuries, placing it among the top 20 global holders of U.S. government debt.

“We can meet redemptions in the tens of billions per day without the blink of an eye,” Ardoino said, noting the firm's ability to tap overnight reverse repo markets for liquidity.

Along with efforts to increase transparency, Tether is diversifying its reserves and global footprint. Its reserves include U.S. Treasuries, gold, Bitcoin and $5.4 billion in excess capital, with another $15 billion in group equity.

The company has also made investments in AI infrastructure, energy, agriculture, and digital distribution platforms such as Rumble.

“We believe in long-term, stable investments. To me, land and agriculture speak about stability,” Ardoino said.

He added that Tether is strengthening partnerships with law enforcement and developing region-specific products. The company now works with over 230 law enforcement agencies, including the FBI and Secret Service.

It is also exploring the possibility of launching a domestic U.S. payment-focused stablecoin, separate from USDT, once regulatory clarity improves.

Ardoino framed the ongoing audit conversations as part of Tether's maturing role in global finance.

“We are a stablecoin that relies on the banking system. That’s the way to go—and that’s how it should be,” he said.