Tether to issue monthly attestation reports with new accounting firm BDO Italia #mimeXmime #Web3GrandPappa

Tether said Aug. 18 that it is now working with BDO Italia, a top five global accounting firm, in an effort to increase the transparency of the USDT stablecoin.Tether expects to increase its transparency and accountability as part of a commitment to maintaining the trust of customers using the USDT stablecoin on a daily basis.

In 2021, Tether incurred a fine of $41 million from the US Commodity Futures Trading Commission and another $18.5 million to the office of the New York Attorney General for allegedly providing misleading details about the assets backing its USDT stablecoin. Tether’s transparency report at the end of 2021 revealed its reserve holdings slightly exceeded its liabilities. It held $78.67 billion in reserves and had liabilities of $78.53 billion.#mimeXmime #Web3GrandPappa

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