Tether, the largest stablecoin issuer globally, has taken a significant step towards enhancing transparency by appointing Simon McWilliams as its new Chief Financial Officer and committing to a full audit. According to a statement released on March 3rd, Tether, the issuer of the stablecoin USDT, introduced McWilliams as a seasoned executive with over two decades of experience in leading major investment companies in precise audits. Paolo Ardoino, Tether’s CEO, highlighted McWilliams’ expertise in financial audits as a key factor in his selection to advance the company’s transparency goals. Concurrently with this appointment, Giancarlo Devasini, the former CFO, has been promoted to the position of group chairman. Conducting a full audit can provide investors with a clearer understanding of Tether’s reserves. Despite regular publication of verified quarterly reports, the company has not conducted a comprehensive and independent audit yet.
