Tether Completes First Full Financial Audit With Clean KPMG Opinion
Tether has completed its first full independent financial audit, with KPMG U.S. issuing an unqualified, or “clean,” opinion on Tether International’s 2025 financial statements.
Tether CEO Paolo Ardoino confirmed that Tether International is the entity that issues the USDT stablecoin, while KPMG separately confirmed that its audit was conducted under AICPA standards for the year ended Dec. 31, 2025.
The audit covered Tether International’s complete financial statements, including its balance sheet, reserves backing issued USDT, liabilities, income statement, equity changes and cash flows. Tether said KPMG also independently tested transactions, systems, valuations and counterparties, and physically inspected every gold bar held by the company.
The audited accounts showed Tether’s reserves exceeded liabilities by $6.8 billion at the end of 2025.
The milestone comes nearly nine years after Tether first promised a full audit in 2017. Until now, the company had relied primarily on periodic reserve attestations, which provide snapshots rather than a comprehensive audit of its financial statements. $USDT
Tether has completed its first full independent financial audit, with KPMG U.S. issuing an unqualified, or “clean,” opinion on Tether International’s 2025 financial statements.
Tether CEO Paolo Ardoino confirmed that Tether International is the entity that issues the USDT stablecoin, while KPMG separately confirmed that its audit was conducted under AICPA standards for the year ended Dec. 31, 2025.
The audit covered Tether International’s complete financial statements, including its balance sheet, reserves backing issued USDT, liabilities, income statement, equity changes and cash flows. Tether said KPMG also independently tested transactions, systems, valuations and counterparties, and physically inspected every gold bar held by the company.
The audited accounts showed Tether’s reserves exceeded liabilities by $6.8 billion at the end of 2025.
The milestone comes nearly nine years after Tether first promised a full audit in 2017. Until now, the company had relied primarily on periodic reserve attestations, which provide snapshots rather than a comprehensive audit of its financial statements. $USDT