Tether gains Deloitte attestation via USAT reserves while $186.54B USDT audit gap remains

On Feb. 27, Deloitte issued an independent accountant's report on Anchorage Digital Bank's USAT Reserve Report, covering the US dollar token USAT that the bank issues in collaboration with Tether. As of Jan. 31, 2026, Anchorage reported $17.6 million in reserve assets against $17.5 million in USAT tokens, while Tether's far larger USDT stablecoin, backed by $192.878 billion in assets and $186.540 billion in liabilities as of Dec. 31, 2025, still has no full Big Four audit. The new attestation gives Tether exposure to a federally regulated US stablecoin with a Big Four name, but leaves long-standing questions over USDT's reserves and governance unresolved.