Tether has appointed Simon McWilliams as its new CFO, marking a significant move towards transparency with plans for a full audit. This initiative aims to enhance financial integrity and compliance, especially following recent regulatory challenges in the EU. McWilliams replaces Giancarlo Devasini, who transitions to Chairman of the Group.
about Tether Appoints New CFO and Commits to Full Audit for TransparencyBDO Unibank, Inc.
0 in Finance and 0 in Crypto last weekGlarner Kantonalbank nominates Susanne De Zordi to Board of Directors
Glarner Kantonalbank has filled the vacancy on its Board of Directors left by Sonja Stirnimann’s resignation. Susanne De Zordi, currently heading the Financial Services division at BDO, will be proposed for election at the Annual General Meeting on April 25, 2025. De Zordi brings extensive experience in accounting, auditing, and advisory services, having previously worked with PricewaterhouseCoopers and consulting firms in Zurich and Vaduz.
about Glarner Kantonalbank nominates Susanne De Zordi to Board of DirectorsMigros Sues Bestsmile Founder Over Allegations of Financial Deception
Ertan Wittwer, who sold his company Bestsmile to Migros for around 100 million, is facing a lawsuit from the retailer, claiming he misrepresented the business. Wittwer asserts he has suffered financially and insists that all figures were reported accurately, supported by audits from BDO and other experts. He expresses dismay at Migros’ actions, which he believes have unjustly damaged his reputation and affected his family.
about Migros Sues Bestsmile Founder Over Allegations of Financial DeceptionAbacus Research Proposes Andreas Wyss for Board of Directors Membership
Abacus Research is set to propose Andreas Wyss as a new member of its Board of Directors at the upcoming Annual General Meeting. With over 30 years of experience in management positions at BDO across Switzerland, Canada, and the USA, Wyss brings valuable expertise in the ERP environment and a strong network of contacts. Chairman Daniel Senn highlights his qualifications as a significant asset to the company.
about Abacus Research Proposes Andreas Wyss for Board of Directors MembershipTether Collaborates with US Lawmakers on Stablecoin Regulation Overhaul
Tether is in discussions with U.S. lawmakers, including Representatives Bryan Steil and French Hill, to develop comprehensive federal regulations for stablecoins, particularly the STABLE Act. This proposed legislation mandates that stablecoin issuers maintain one-to-one reserves and undergo monthly audits by independent firms, aiming to enhance consumer protection and financial stability in the digital asset market. Tether’s CEO, Paolo Ardoino, emphasized the company’s commitment to comply with regulations while advocating for a voice in the legislative process amidst ongoing uncertainty.
about Tether Collaborates with US Lawmakers on Stablecoin Regulation OverhaulTether Engages with US Lawmakers on Stablecoin Regulation Proposals
Tether is actively collaborating with US lawmakers to shape new stablecoin regulations, emphasizing the need for their input in the legislative process. Proposed bills, including the STABLE Act, would mandate monthly audits and require issuers to maintain one-to-one reserves with high-quality assets. Tether, which holds a significant market share, may need to adjust its asset holdings to comply with these regulations.
about Tether Engages with US Lawmakers on Stablecoin Regulation ProposalsTether Reports Over 13 Billion Profit and Significant Bitcoin Holdings in 2024
Tether reported $13 billion in profits for 2024, driven by $7.8 billion in Bitcoin holdings and $5 billion in unrealized profits from its gold and Bitcoin stash. The company issued over $45 billion in USDT, reaching 400 million users, while total assets stood at $157.6 billion, exceeding liabilities by over $7 billion. Tether’s CEO emphasized the firm’s commitment to stability and trust in the digital asset space, alongside plans for new product launches.
about Tether Reports Over 13 Billion Profit and Significant Bitcoin Holdings in 2024Tether Reports Record Profits and Expands US Treasury Holdings in 2024
Tether reported record profits of $13 billion in 2024, with its US Treasury portfolio reaching $113 billion, reflecting the growing popularity of its USD-pegged stablecoin, USDT. Despite a market cap dominance decline to 65%, USDT still holds 82% of the centralized exchange market share. The company is diversifying its investments into sectors like sustainable energy and AI, while also facing increased competition from USD Coin, which has gained traction amid regulatory scrutiny.
about Tether Reports Record Profits and Expands US Treasury Holdings in 2024