Tether CEO Emphasizes Regular Audits and Response to U.S. Regulations

The CEO of Tether defined the company not merely as a stablecoin issuer but as a 'stable enterprise.' He explained that regular audits, responding to U.S. regulations, and investments in gold, Bitcoin, and land are part of a long-term survival strategy. In an interview on August 30, the CEO stated that the controversy over reserves was resolved through KPMG audits and that annual audits will continue in the future. He noted that Tether has been waiting for 12 years for an audit and regarded this audit as a victory for the industry. He mentioned the previous U.S. administration's environment as a reason for the audit delays and stated that Tether's financial statements consist of U.S. Treasury bonds, gold, and Bitcoin. The CEO explained the roles of USAT and USDT, emphasizing that USAT is a product aimed at the U.S. market. He added that USDT serves as a dollar substitute in emerging markets and has a high level of regulatory compliance. He stated that a stablecoin does not need to address both demands. Additionally, he claimed that Tether's holdings of U.S. Treasury bonds have a diversifying effect and presented investments in gold, Bitcoin, and land as means to secure long-term stability. He stressed that Tether must consider all possible scenarios and evaluated Bitcoin as a hedge against inflation.

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