Tether, the world's largest issuer of stablecoins, is negotiating with a Big Four auditing firm to advance the long-promised audit of its reserves. Tether has issued over $140 billion in cryptocurrency pegged to the US dollar, and the company claims that each token is backed by assets denominated in US dollars. Currently, it only publishes quarterly reports, and a full audit has not yet been completed. Tether's CEO Paolo Ardoino did not disclose the specific firm with which they are negotiating or the timeline for the audit, stating, "This (denetim) is our top priority." Earlier this month, Tether appointed Simon McWilliam as its Chief Financial Officer to facilitate a comprehensive financial audit. At the same time, Tether is continuously increasing the transparency of its reserves, having purchased over $33.1 billion in US Treasury bonds in 2024, making it the seventh largest buyer of US Treasury bonds.