Tether hires KPMG and PwC to audit $185B stablecoin reserves amid stricter rules
Tether has taken steps to strengthen its financial oversight by hiring two major accounting firms. The company, which manages $185 billion in circulating stablecoins, is also exploring a significant equity raise. Meanwhile, DeepSnitch AI's token presale is closing soon, with expectations of a strong market debut.
In separate developments, BitQuant saw a massive surge in trading activity, while NEAR Protocol's price hovered near $1.19 amid low market sentiment. Tether has brought in KPMG to conduct its first full financial statement audit. The firm also engaged PwC to improve its internal financial systems. Previously, Tether relied on periodic reserve checks from BDO Italia, but stricter regulations now require deeper scrutiny.
To comply with the GENIUS Act, Tether must ensure its USDT stablecoin remains fully backed by cash or short-term U.S. Treasury securities. The company must also publish monthly reserve reports and submit to monthly audits by Big Four firms. In January 2026, Tether launched USAT, a new stablecoin designed specifically to meet U.S. regulatory standards under the GENIUS Act.
Elsewhere, DeepSnitch AI's token presale is set to end at 11 AM UTC on March 31st. The token will then list on Uniswap at 12 PM UTC the same day. Analysts suggest the token could surge 100 times its current value, reaching $4.67. A $10,000 investment at the presale price of $0.04669 would secure around 214,178 DSNT tokens. DeepSnitch AI is currently ranked among the leading AI-focused cryptocurrencies.
On March 27th, BitQuant experienced a dramatic 933% spike in 24-hour trading volume. The surge pushed its daily trading activity beyond $1.3 million. Meanwhile, NEAR Protocol traded near $1.19, with market sentiment at an extreme fear rating of 13. Tether's move to Big Four audits marks a shift toward greater transparency. The company's potential equity raise and USAT stablecoin reflect efforts to align with U.S. regulations. DeepSnitch AI's upcoming Uniswap listing follows a high-demand presale, while BitQuant's trading surge highlights renewed interest in smaller crypto assets. NEAR Protocol's low price and fear index suggest cautious market conditions.
