Tether Says It Will Be Audited By Big Four Accounting Firm—But Won't Say Which One

Tether, the world’s top stablecoin issuer, announced Tuesday it will soon make good on a yearslong promise to audit its sprawling stablecoin reserves—but won’t yet disclose which firm will actually do the job. Tether claims to hold some $192 billion in assets in reserve around the world to back the value of its dollar-pegged stablecoin, USDT. The majority of those reserves are purported to be held in U.S. Treasuries. But, ever since its founding in 2014, the company has refrained from undergoing an audit ...