Tether, known for its stablecoin, announced its engagement with one of the Big Four firms for a full audit, feasible due to Trump's crypto-friendly policies.
New Audit Era for Tether
Tether CEO Paolo Ardoino confirmed discussions with a Big Four firm for conducting a full audit. This marks a significant step towards proving the transparency of its declared $140 billion worth of stablecoins. The crypto policy initiated by Donald Trump's administration has significantly eased such initiatives, as Ardoino stated, 'If the President of the United States supports this direction, auditing firms are bound to listen.'
Financial and Regulatory Strategy
The current policy allows Tether to steadily increase its U.S. debt holdings. In 2024, the company acquired more than $33.1 billion in Treasury bills, making it the seventh-largest buyer of this financial instrument in the U.S. These actions align with government initiatives to integrate cryptocurrencies and ensure favorable conditions for their use on the international stage.
Global Influence of Tether
Today, Tether plays a crucial role in the economies of countries like Iran, Argentina, and Turkey, where local currencies are experiencing sharp inflationary shifts. In these regions, the stablecoin is actively used for saving and daily transactions. Despite its advantages, Tether remains a focus for law enforcement agencies globally due to the potential for its exploitation in unlawful operations and sanctions evasion.
For Tether, the move towards a full audit could significantly enhance trust in the company's cryptocurrency model. This development is especially important in light of recent regulatory and economic changes globally, as it shows how the crypto industry adapts to new challenges and opportunities.
