Security & Regulation
Audits Under Fire: Regulators Tighten the Noose Around Tether and Rival Stablecoins
The stablecoin market felt a bit like the Wild West. Leaders like Tether grew into multi-billion-dollar titans by operating on a relatively simple premise: Trust us, the money is there. Instead of full, rigorous financial audits, the industry leaned heavily on quarterly "attestations"—essentially financial snapshots that proved the reserves existed at one specific moment in time. Critics scoffed, short-sellers poked holes, and regulators watched with growing anxiety as these digital assets evolved from niche crypto trading tools into a cornerstone of global financial infrastructure.
