Tether announces commissioning of the Big Four accounting firms to conduct its first full audit, further enhancing transparency of its $184 billion USDT market value

The world’s largest stablecoin issuer, Tether, announced on March 24 that it has officially commissioned one of the “Big Four” accounting firms to conduct its first comprehensive independent financial audit. Tether described this audit as “the largest first-time audit in the history of financial markets,” covering complex assets such as digital assets, traditional reserves, and tokenized liabilities.

From periodic attestations to full audits, transparency standards are significantly improving

Currently, industry standards involve periodic “attestation reports,” where accountants confirm the existence of reserve assets, but these are not full financial audits. The full audit commissioned by Tether from the Big Four firms is broader in scope and more rigorous in standards — during the audit process, the firms have conducted a comprehensive assessment of Tether’s systems, internal controls, and financial reports, and engaged in in-depth communication with a wide range of stakeholders.

Tether CEO Paolo Ardoino stated, “Trust is built through actions, not promises. This audit represents the results of years of strengthening our system, enabling Tether to meet the highest standards in global finance.”

USDT Market Cap Exceeds $184 Billion, Over 550 Million Users Worldwide

Currently, the market cap of USDT has surpassed $184 billion, with over 550 million users worldwide, making it the largest stablecoin by scale. Tether CFO Simon McWilliams (who took office in early 2025) revealed that the audit firm was selected through a competitive process, “The company has met the standards of the Big Four, and the audit will be completed as scheduled.”

Reserve adjustments are underway, with some listed securities to be transferred

Tether also stated that it will continue to optimize its reserve composition and will transfer some listed securities in the coming days. The company emphasized that profits have long been retained within its holding company rather than distributed as dividends, to ensure sufficient capital to support USDT stability. These resources can serve as additional balance sheet flexibility.

Proactive measures amid regulatory pressure

For years, Tether has faced ongoing external scrutiny over reserve transparency issues. Commissioning the Big Four for this audit is seen as a strategic move to proactively enhance compliance standards amid the passage of the U.S. GENIUS Act and the gradual clarification of stablecoin regulations. Once the full audit report is completed, it will be the first time Tether publicly discloses its complete financial status, setting an important transparency benchmark for the entire stablecoin market.

This article about Tether announcing the commissioning of the Big Four for its first full audit, with a market cap of $184 billion USDT, and transparency upgrades, first appeared on Chain News ABMedia.