From Cointelegraph

March 22, 2025 01:41 AM:

Stablecoin issuer Tether is in talks with a Big Four accounting firm to conduct its first full audit and verify its USDT stablecoin is backed 1:1. Tether CEO Paolo Ardoino sees the audit process as more straightforward under pro-crypto US President Donald Trump. Tether recorded a $13.7 billion profit in 2024.

Tether’s USDT is pegged to the US dollar at a 1:1 ratio, backed by reserves including traditional currency and other assets. Industry concerns over Tether’s lack of transparency have been raised, with some questioning the $118B in collateral without proof. In 2021, Tether was fined $41 million for lying about reserves.

Tether has expressed disappointment over new European regulations forcing exchanges to delist USDT and nine other tokens to comply with MiCA. Tether hired a new CFO in preparation for a full financial audit. Tether did not specify which Big Four accounting firm it plans to engage for the audit.

Read more at Cointelegraph.com

1. Bitcoin hits new all-time high of $60,000, fueled by institutional interest and positive sentiment. Market cap surpasses $1 trillion for the first time.
2. Ethereum reaches record high of $2,000, driven by decentralized finance (DeFi) boom and increasing adoption by institutional investors.
3. Tesla announces $1.5 billion investment in Bitcoin, sparking debate over corporate adoption of cryptocurrencies.
4. Crypto exchange Coinbase prepares for IPO, aiming for valuation of $100 billion amid surging interest in digital assets.: Tether seeks Big Four firm for its first full financial audit: Report