Tether sees departures of HSBC-recruited gold traders as it brings KPMG audit in-house amid bullion strategy pivot

Tether has parted ways with senior gold traders it had recruited from HSBC as the company moves a long‑awaited KPMG audit forward in‑house, according to reporting that first flagged the departures and the audit transition. Other outlets describe the departures as part of a quiet reshuffle of Tether’s gold‑trading team ^{[1] [2]}.

Industry coverage says the exits coincide with a wider strategic shift at Tether, with leadership changes raising questions about the execution of its bullion expansion and related revenue plans while the audit proceeds and tokenization efforts continue to be discussed in the market ^{[3] [2]}.

The personnel moves and audit update have drawn attention on social platforms and community forums, where observers have tracked the hiring and subsequent departures of the recruited traders ^[4].

Taken together, reports show Tether advancing an in‑house KPMG audit amid a quiet reduction in its externally recruited gold‑trading staff; coverage notes that further details about the company’s bullion strategy and how it will be executed were not provided in these reports ^{[1] [3] [2]}.