Stablecoin’s giant tether says that it will be independently audited, according to A. Report on friday Reuters.
company– Which one is it? It is currently based In El Salvador, they struggled to acquire top accounting firms and independently audited those that support the stubcoin.
The company is like that “Attractive“ According to Reuters, the company’s CEO, Paolo Aldoino, said it owns one of the top companies. The four big accounting firms are PWC, EY, Deloitte and KPMG.
Tether didn’t respond immediately. DecryptionRequest a comment.
Tether mint stablecoins– Digital tokens backed by assets such as gold and dollars. Tether main products, USDTAccording to data provider Coingecko, it is the industry’s most acquired cryptocurrency and the third largest virtual token by market capitalization.
According to Tether, USDT is backed by the US Treasury Department and other assets and runs on many blockchains. Ethereum, Solanaand Tron. I’ll do that too It will be available soon Bitcoin network.
Traders use USDT and other Stablecoins to quickly enter and finish Crypto transactions without accessing traditional financial rails, which is the reason for their popularity.
But regulators have in the past He criticized Tether Because it is not transparent enough about what supports the spare token. Tether said he is keen to work with the Big 4 company for an audit.
Tether in 2021 I agree After a two-year comprehensive state attorney’s investigation, the company found that it had made “false statements about assistance” with the token.
Canter Fitzgerald, the company of new Secretary of Commerce Howard Lutnick, is currently detaining billions of Buck Tether’s assets.
Edited by James Rubin
