tldr; Tether’s CEO Paolo Ardoino explained that the Big Four accounting firms (Deloitte, PwC, EY, KPMG) are hesitant to audit Tether due to reputation risks, despite it being a top priority for the company. Tether, the issuer of the world’s leading stablecoin USDT with a $108 billion market value, currently relies on quarterly attestations instead of audits. The lack of a Big Four audit contributes to ongoing investor concerns about the backing of USDT.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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tldr; Tether’s CEO Paolo Ardoino explained that the Big Four accounting firms (Deloitte, PwC, EY, KPMG) are hesitant to audit Tether due to reputation risks, despite it being a top priority for the company. Tether, the issuer of the world’s leading stablecoin USDT with a $108 billion market value, currently relies on quarterly attestations instead of audits. The lack of a Big Four audit contributes to ongoing investor concerns about the backing of USDT.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.