“The Big Four Firm was selected through a competitive process because the organization is already operating at Big Four audit standard; the audit will be delivered,” said Simon McWilliams, chief financial officer of Tether, in the statement.
Since Trump took office last January, the stablecoin giant, along with other major crypto companies, has benefited from more lenient regulation out of Washington. The connections between the president and Tether are not hard to find. Howard Lutnick, Trump’s commerce secretary, is the former CEO of Cantor Fitzgerald, which is the company that manages the reserves of USAT. And the president’s former top crypto official, Bo Hines, is now the CEO of Tether’s U.S. operations
“Tether’s mission has always been to build trust through action, not promises,” said Paolo Ardoino, Tether’s CEO, about the audit in the statement. “Trust is built when institutions are willing to open themselves fully to scrutiny.”
