Tether Suspends $20 Billion Financing Plan Pending First Comprehensive Financial Audit Results

Tether announced on March 24 that it has engaged one of the Big Four accounting firms to conduct an audit, stating this will be the largest first-time audit in financial market history, but did not disclose the specific firm name or audit timeline.

The fundraising was originally scheduled to be completed by the end of 2025 with a target valuation of $500 billion, but has been delayed multiple times. Despite the audit pause, some prospective investors have indicated willingness to provide support. Tether's Chief Financial Officer stated that the company has been operating according to Big Four audit standards and the audit will be completed. The company is working with banks including Cantor Fitzgerald, Morgan Stanley, and BTG Pactual to advance the fundraising.