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Tether completes first full financial audit by KPMG

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2026-08-14 21:55 UTC → 2026-08-16 01:27 UTC · added ~~removed~~

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. ~~Tether reported that its reserves exceeded its liabilities by $6.814 billion at the end of 2025. A significant component of the audit involved the physical verification of assets.~~ 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.

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