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CryptoMediumUpdated×4•Originally published 26 March 2026•Updated 28 March 2026•

1 min read

Tether Eyes $20 Billion Fundraising as it Engages Big Four for USDT Reserve Audit

Key Facts

1Tether has secured a Big Four accounting firm to conduct a full transparency review of its USDT stablecoin.

2 months ago

Version History

12 additional sources confirmed this story

Version 42 months ago

What changed: Updated USDT circulation to a record $184 billion and clarified that the KPMG engagement involves a 'full audit' rather than previous point-in-time attestations.

Version 32 months ago

What changed: The update specifies the legislative framework (GENIUS Act) driving Tether's U.S. strategy, identifies the Financial Times as the primary reporting source, and notes the shift away from its previous auditor, BDO Italia.

Version 22 months ago

What changed: Added information about a potential $20 billion fundraising round and clarified PwC's role in preparing internal systems for the audit.

Version 12 months ago

What changed: Identified KPMG and PwC as the firms involved, adding context regarding U.S. expansion and regulatory compliance.

Tether is reportedly seeking to raise up to $20 billion in equity as USDT circulation hits a record high of approximately $184 billion, according to the Financial Times. In a major strategic shift, the stablecoin issuer has engaged KPMG to conduct its first-ever full audit by a Big Four firm, replacing the previous point-in-time attestations. Additionally, PwC is assisting with internal infrastructure preparation to ensure technical compliance ahead of the comprehensive review of reserves. These moves are aimed at securing U.S. regulatory approval under the proposed GENIUS Act and bolstering institutional trust. As the primary liquidity provider for the digital asset market, Tether’s push for capital and rigorous auditing is seen as a vital step for global market stability.