Tether CEO Paolo Ardoino Says Donald Trump May Have Finally Enabled an Audit of the World's Largest Stablecoin

Tether CEO Paolo Ardoino says the long-awaited audit of the world’s largest stablecoin may finally happen — thanks to Donald Trump.

Tether is finally engaging with a Big Four accounting firm to carry out an audit of its reserves, according to CEO Paolo Ardoino, who credits Donald Trump’s pro-crypto stance for creating a more favorable environment.

In an interview with Reuters, Ardoino revealed that the firm is now working with a Big Four accounting firm.

A full audit of the stablecoin issuer's holdings by a major independent firm has been long promised but never delivered.

Ardoino didn't disclose the name of the firm or provide a timeline for the audit.

However, he noted that Trump's pro-crypto policies, including his statement that he would stop Operation Chokepoint 2.0, have created a more favorable regulatory environment for crypto firms to operate in.

"If the President of the United States says this is a top priority for the U.S., Big Four auditing firms will have to listen," Ardoino added.

Trump's administration has been accused of waging a "secret war" against crypto, with regulators placing pressure on banks to sever ties with digital asset firms.

This move, known as Operation Chokepoint 2.0 in industry terms, has led to several crypto firms losing access to banking services.

But within days of hosting a crypto summit at the White House, Trump said he would put a stop to Operation Chokepoint 2.0 and leave the decision of whether to bank crypto firms to the institutions themselves.

Since then, regulators including the OCC have loosened restrictions on banks serving digital asset firms.

That shift may open the door for Tether to finally deliver an audit of its reserves.

The company has promised such an audit for years but never completed it, despite pressure from lawmakers and market participants.

It could also help blunt growing scrutiny around the role of Tether's USDT token in illicit finance and geopolitics, from its alleged use in sanctions evasion to financing cross-border oil deals.

The stablecoin giant, which reports over $94 billion in U.S. Treasury bonds, has become one of the largest holders of government debt.

A portion of Tether's reserves are managed through Wall Street firm Cantor Fitzgerald, which is now headed by Trump's Commerce Secretary, Howard Lutnick.

The two men reportedly discussed the importance of deepening economic ties between the U.S. and China at a recent meeting.