March 5, 2025
Enhancing Trust
With over 20 years of financial management experience, McWilliams is expected to lead Tether through a full audit of its reserves, enhancing trust with both users as well as regulators.
Source: Paolo Ardoino
CEO Paolo Ardoino emphasized McWilliams’ expertise in financial audits, which will help Tether strengthen its position in the $232 billion stablecoin market and support U.S. financial stability.
Addressing Transparency Concerns
McWilliams takes over from Giancarlo Devasini, who will now serve as Chairman and focus on Tether’s macroeconomic strategy. Under Devasini, Tether faced criticism for lacking a full audit, relying on quarterly attestation reports from BDO since 2022.
This absence of transparency has sparked skepticism, especially following a 2021 settlement with the New York Attorney General over USDT’s backing.
