Tether hires KPMG for USDT audit, brings in PwC as it gears up for U.S. expansion

What: Tether has hired KPMG and PwC to conduct an audit of its USDT stablecoin and prepare for its U.S. expansion.
Why: The move is seen as a significant step towards increasing transparency and regulatory compliance for Tether, which has faced scrutiny over its financial practices.
Signal: The hiring of two major accounting firms sends a strong signal that Tether is committed to meeting U.S. regulatory requirements and building trust with investors.
Watch: The outcome of the audit and Tether's U.S. expansion plans will be closely watched by the market, particularly in terms of its impact on the broader cryptocurrency space.
Risk: The risk of regulatory backlash or reputational damage remains if Tether fails to meet U.S. regulatory requirements or if the audit reveals significant issues with its financial practices.