Internet reports that Tether, the world's largest stablecoin issuer, is in contact with a big four accounting firm to advance its long-promised reserve audit. Tether has issued more than $140 billion worth of dollar-pegged cryptocurrencies. The company claims that each token is backed by dollar-denominated assets. It has only released quarterly reports and has not yet completed a full audit. Tether CEO Paolo Ardoino did not disclose the specific firm being negotiated or the audit schedule, saying: "This (audit) is our top priority." Tether appointed Simon McWilliams as chief financial officer earlier this month, responsible for advancing a comprehensive financial audit. At the same time, Tether is also continuously strengthening the transparency of its reserves, purchasing more than US$33.1 billion in U.S. Treasury bonds in 2024, becoming the seventh largest buyer of U.S. Treasury bonds.