Tether (issuer of USDT, the world’s largest stablecoin) has completed its first full financial statement audit, conducted by KPMG U.S. (one of the Big Four accounting firms).

• KPMG issued an unqualified (clean) opinion on Tether’s 2025 financial statements.

• Reserves exceeded liabilities by $6.8 billion.

• Auditors even physically counted and inspected every gold bar held by Tether.

This is a major transparency milestone after years of questions about its reserves. It’s a positive signal for the stablecoin industry.