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[SITUATION] · [QUIET] · [BUSINESS]

3 clusters · 33 sources · 3 days · First seen · Last updated

Tether completes first full financial audit by KPMG

Overview

Tether, the issuer of the USDT stablecoin, has completed its first full independent financial audit for the fiscal year ending December 31, 2025. Conducted by KPMG U.S., the audit resulted in an unqualified opinion, indicating that the company’s financial statements fairly represent its financial position and cash flows in accordance with U.S. generally accepted accounting principles (GAAP).

This comprehensive audit represents a shift from the quarterly reserve attestations Tether previously provided. The review examined the company’s balance sheet, income statement, internal systems, and ownership records. KPMG auditors reportedly conducted a physical inspection and count of Tether’s gold holdings to verify their existence and authenticity, rather than relying exclusively on third-party documentation. Tether CEO Paolo Ardoino described the audit as a “defining moment for the stablecoin industry,” intended to address long-standing transparency concerns.

While the KPMG audit confirmed that Tether’s reserves exceeded its liabilities by $6.814 billion at the end of 2025, subsequent data indicates a reduction in the reserve buffer. An attestation by BDO dated June 30, 2026, reported a reserve margin of $4.110 billion, which represents a 39.7% decrease from the figure certified by KPMG six months prior.

Entities

Tether · KPMG · Paolo Ardoino · KPMG U.S. · SEC

Claims

What the coverage asserts, and how many sources carry each claim.

Coverage disagrees

Sources make claims that cannot both be true. CLSTR reports the disagreement; it does not decide who is right.

  • "The audit was conducted according to AICPA standards under U.S. GAAP rather than PCAOB standards."

    vs

    "The audit was conducted in accordance with U.S. generally accepted accounting principles (GAAP)."

    While both mention U.S. GAAP, the claims differ on the specific auditing standards applied (AICPA vs. unspecified) and the attribution of the standard's application.

Timeline

  1. 28 days ago

    [BUSINESS] 7 sources
    Tether receives unqualified KPMG audit for 2025 finances

    Tether secured its first full unqualified audit from KPMG for 2025, verifying $6.8 billion in excess assets, though recent attestations show the reserve buffer has since decreased by nearly 40%.

  2. about 1 month ago

    [BUSINESS] 2 sources
    SEC plans crypto rules as Tether receives KPMG audit

    The SEC is planning new frameworks for tokenized stocks and crypto capital raises, while Tether receives its first full audit from KPMG with an unqualified opinion.

  3. about 1 month ago

    [BUSINESS] 26 sources
    Tether completes first full financial audit by KPMG

    Tether has completed its first full financial audit by KPMG U. S., receiving an unqualified opinion. The audit confirmed that reserves exceeded liabilities by $6.814 billion as of year-end 2025.

Sources

ambcrypto.com · assodigitale.it · bitcoinethereumnews.com · bitcoinmagazine.com · bitcoinsistemi.com · blocktempo.com · blogtienao.com · coincu.com · coinedition.com · coinpedia.org · crypto-reporter.com · crypto-times.jp · cryptoast.fr · cryptobreaking.com · cryptobriefing.com · cryptoninjas.net · cryptopolitan.com · decrypt.co · ekz.ch · en.coin-turk.com · eurweb.com · inversion.es · italiaunita150.it · kienthuc.net.vn · merca2.es · neweconomy.jp · news.bitcoin.com · newsmaxtv.com · nourishedbycaroline.ca · siamblockchain.com · tekedia.com · therogueginger.com · tronweekly.com

This summary has been updated 2 times: see revision history