Tether collabs with BDO Italia
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Tether and BDO Italia collaboration: To publish a monthly report on reserves

Tether has teamed up with auditing giant BDO Italia to publish a monthly reserve report and aim for transparency.

Tether to aim transparency

The source of funds to maintain the value of the USDT stablecoin as well as the opacity that surrounds Tether’s funds has fueled many rumors that the company is struggling to formally dismantle. Tether has been caught in a series of troubles over the past few years.

The New York State Attorney General ordered it to release quarterly reports on its reserves in February 2021 as part of an $18.5 million settlement. A situation that the company seems to want to remedy.

The notorious stablecoin said that it began working with BDO Italia in July for its quarterly reports. Going forward, it will issue monthly reports instead.

The Tether operator said:

The company’s new relationship with BDO Italia “aligns with Tether’s commitment to transparency and is the next step in the company’s journey towards a full audit.

BDO Italia moves up to the fifth largest accounting and auditing firm behind Deloitte, PwC and KPMG.

Tether takes a significant step towards transparency and announces that these attestations will now be monthly.

In its latest attestation, Tether reported that the cash bills in its reserves decreased 17% to $20.1 billion in the first quarter of 2022, down from the previous quarter.


Article written by:

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at Trendingcrypto.news magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.

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