TETHER’s CEO Paolo Ardoino said that he has been negotiating with one of the four leading audit companies worldwide to supervise the company’s reserves. The company said that it has a dollar reserve for every USDT token.
USDT Reserve
According to Reuters, the Tether administration thinks that a comprehensive control will benefit in terms of transparency. Currently, reserves are followed by monthly or three -month reporting. It is thought that the audit can play an important role in fully controlling and presenting the reserves to the public.
Paolo Ardoino: “This process is one of the most important priorities for our company. With the relevant regulations of the President of the US, we think it is possible to get the support of four large audit firms.”
4 major auditors
Tether reports that USDT’s circulating value is approximately $ 143 billion. The company continues to promise transparency by sharing reserve data on its website regularly. It is stated that this application is evaluated positively by sector observers.
Following the strategic instruction signed by the US President, the audit process is expected to become more accessible. The four large audit organizations are expected to act in line with regulatory expectations. This is seen as an important factor in the completion of the audit.
This step by the company is carefully monitored by market players. Reserve audit is thought to contribute to the strengthening of the trust environment in the sector. Investors are warned that the audit reports will follow the information in the future.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
