{"id":15883,"date":"2025-03-03T14:01:45","date_gmt":"2025-03-03T14:01:45","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=15883"},"modified":"2025-03-03T14:01:45","modified_gmt":"2025-03-03T14:01:45","slug":"tether-names-simon-mcwilliams-as-cfo-amid-push-for-full-audit","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=15883","title":{"rendered":"Tether Names Simon McWilliams as CFO Amid Push for Full Audit"},"content":{"rendered":"
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Tether has appointed Simon McWilliams as its new Chief Financial Officer (CFO) as the leading stablecoin issuer moves toward the completion of a full financial audit.<\/p>\n

McWilliams, a finance executive with over 20 years of experience, is set to lead Tether\u2019s transparency and regulatory engagement efforts. <\/p>\n

The appointment, according to the company\u2019s announcement<\/a>, represents a \u201cfirm commitment to completing a full audit, a crucial step in raising industry standards and strengthening regulatory engagement.\u201d<\/p>\n

Tether currently publishes quarterly attestations of its reserves verified by accounting firm BDO, but it hasn\u2019t yet undergone a full independent audit. The company has for years faced criticism surrounding its reserves, with various critics suggesting<\/a> the firm didn\u2019t have enough reserves to fully back the USDT in circulation.<\/p>\n

Back in 2021, the New York Attorney General\u2019s office settled with Bitfinex over a 22-month inquiry into whether the exchange covered up a loss of $850 million in customer and corporate funds. That inquiry found<\/a> that \u201cTether\u2019s claims that its virtual currency was fulled backed by U.S. dollars at all times was a lie.\u201d<\/p>\n

A full audit could provide more detailed insight into Tether\u2019s reserves. Three and a half years ago, the firm\u2019s General Counsel Stuart Hoegner said in an interview that an audit was just \u201cmonths, not years\u201d away.<\/a><\/p>\n

The stablecoin giant holds over $113 billion in U.S. Treasury bills, making it one of the largest holders of U.S. government debt, and reported a $13 billion profit for 2024<\/a>. The company said these holdings contribute to global liquidity and support access to the U.S. dollar, particularly in emerging markets.<\/p>\n

\u201cTether is once in a century company. And we\u2019re laser focused on transparency, doubling down our efforts for a full audit,\u201d Tether\u2019s CEO Paolo Ardoino said on social media<\/a>. \u201cSimon\u2019s hire is massive, truly a force of nature in the financial world.\u201d<\/p>\n

As part of the leadership shift, Giancarlo Devasini, Tether\u2019s longtime CFO, will transition to Chairman of the Group.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Tether has appointed Simon McWilliams as its new Chief Financial Officer (CFO) as the leading stablecoin issuer moves toward the completion of a full financial audit. McWilliams, a finance executive with over 20 years of experience, is set to lead Tether\u2019s transparency and regulatory engagement efforts. The appointment, according to the company\u2019s announcement, represents a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-15883","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15883"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15883\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}