Tether Engages Big Four Firm for Independent Audit of Reserves

Tether's recent announcement has sparked interest in the cryptocurrency community as it engages a Big Four accounting firm to conduct an independent audit of its reserves. This move comes after years of promises and failed attempts at transparency, including a 2017 engagement with Friedman LLP that ended without a completed report.

The GENIUS Act, signed in July 2025, has put pressure on foreign stablecoin issuers like Tether to undergo annual reserve audits. With its reserves holding approximately US$192 billion in backing, Tether is well above the threshold set by the act.

While Tether declined to disclose the name of the Big Four accounting firm or provide a completion timeline, it stated that the audit will be delivered at Big Four standard. The company's reserve claims have faced scrutiny in the past, including a US$41 million fine from the CFTC for overstating its dollar reserves.