Tether CEO Paolo Ardoino says the long-awaited audit of the world’s largest stablecoin may finally happen — thanks to Donald Trump.
After years of delays, Ardoino told Reuters that Tether is now “engaging with a Big Four accounting firm,” suggesting an audit of its reserves that back its $143 billion worth of USDT tokens.
A full audit of the stablecoin issuer’s holdings by a major independent firm has been long promised but never delivered.
Though he didn’t name the firm or offer a timeline, he credited Trump’s pro-crypto stance for creating a more favourable regulatory environment.
“If the President of the United States says this is a top priority for the US, Big Four auditing firms will have to listen,” Ardoino said.
Trump recently declared he would end “Operation Chokepoint 2.0” — a term used by the industry to describe efforts by US regulators to restrict crypto companies’ access to banking services.
Within days of his crypto summit at the White House, regulators including the OCC loosened restrictions on banks serving digital asset firms.
That shift may open the door for Tether to finally deliver an audit — something the company has promised for years but never completed.
It could also help blunt growing scrutiny around the role of Tether’s USDT token in illicit finance and geopolitics, from its alleged use in sanctions evasion to financing cross-border oil deals.
The stablecoin giant, which reports over $94 billion in US Treasury bonds, has become one of the largest holders of government debt.
Much of it is managed through Wall Street firm Cantor Fitzgerald — now headed by Trump’s Commerce Secretary, Howard Lutnick.
Crypto market movers
- Bitcoin has gained 0.3% over the past 24 hours to trade at $84,230.
- Ethereum is up 0.8% over the same period to $1,990.
What we’re reading
- US removes Tornado Cash from sanctions list as token jumps 60% — DL News
- Innovate or die: PumpSwap vs. Raydium — Milk Road
- Major Bank Regulator Removes Key Rationale for Blacklisting Crypto Industry ― Unchained
- Why Arthur Hayes says the Fed will push Bitcoin price to $250,000 — DL News
Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.
