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⛓️ Crypto🟢 BullishImportance 7/10
Tether taps Big Four firm KPMG for first financial audit of $184 billion stablecoin issuer: FT
🤖AI Summary
Tether, the issuer of the world's largest stablecoin worth $184 billion, has engaged Big Four accounting firm KPMG to conduct its first comprehensive financial audit. This marks a significant upgrade from the monthly attestations previously provided by BDO Italia, which were less rigorous than a full audit.
Key Takeaways
- →Tether has hired KPMG, a Big Four accounting firm, for its first comprehensive financial audit.
- →The audit represents a major upgrade from monthly attestations by BDO Italia that Tether previously relied on.
- →Tether is the issuer of the world's largest stablecoin with $184 billion in circulation.
- →The move toward full auditing could enhance transparency and regulatory compliance for the stablecoin issuer.
- →This development may help address long-standing concerns about Tether's financial backing and reserve transparency.
Read Original →via The Block
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