Tether(USDT) News: Pursuing Transparency with a Big Four Audit and Facing Competition from USDC

In the world of cryptocurrencies, Tether (USDT) continues to be a significant player, but it’s not resting on its laurels. The issuer of the world’s largest stablecoin is actively seeking a comprehensive audit from one of the Big Four accounting firms, aiming to enhance transparency and regain trust. Meanwhile, competition is heating up as Circle’s USDC hits a record market cap, outpacing USDT’s growth.

Tether Seeks First-Ever Full Audit From The Big Four

Tether, the issuer of the world’s largest stablecoin (USDT), is actively pursuing its first comprehensive audit with one of the big four accounting firms—KPMG, PwC, Deloitte, and EY. According to Reuters, CEO Paolo Ardoino stated that transparency and the audit are the company’s top priorities. However, Ardoino has not clarified which of the big four will be auditing Tether.

USDC Hits Record $60B Market Cap, Outpaces USDT Growth

Circle’s USDC stablecoin has reached a record $60 billion market cap, surpassing its previous high of $55 billion in June 2022. USD Coin (USDC) has also outpaced its main competitor Tether (USDT) in growth over the past three months, adding $16.3 billion to its supply compared to USDT’s $4.4 billion growth. Despite this, USDT still dominates the stablecoin market cap rankings with a market capitalization of $144 billion. The key driver of USDC’s growth was the surge in stablecoin activity on Solana (SOL), with the value of stablecoins on the network recently surpassing $10 billion for the first time, largely fueled by Circle’s USDC.

Rumble Plans to Launch Digital Wallet with Tether Support

Rumble, a Canada-based online video platform, announced plans to create its own digital wallet to monetize creators. The wallet, backed by stablecoin issuer Tether (USDT), aims to provide creators with better monetization options than most advertisers, especially in international markets. Rumble CEO Chris Pavlovski revealed the plans in a recent post, claiming that the wallet will be ’bigger and more than you think.’ No further details about the wallet or its launch date have been revealed yet.