Tether’s CTO Paolo Ardoino on Monday said Tether (USDT) has survived short selling and redemptions amid the crypto market crash. Moreover, Paolo Ardoino believes Tether has always been more transparent about its reserves. Tether reserves are validated quarterly by accounting firm MHA.
In fact, Tether is planning to undergo a full audit of its reserves. However, the Big Four accounting firms remain unavailable due to the lack of regulatory definitions around stablecoins.
Tether (USDT) Reserves To Undergo Full Audit, Says CTO
Tether had provided information about its reserves over the last two years, and it will provide more information if regulators demand, said Paolo Ardoino in an interview with Euromoney.
“We wish that regulators would provide clarity on what is owed to be disclosed. If we disclose a [hypothetical] 10, it’s unfair that other stablecoins disclose a five.”
Tether’s CTO Paolo Ardoino asserts that public disclosure of details about its reserves hampers relationships with partners and banks. Disclosing details about banks and counterparties is not a fair practice.
