Tether Completes First Full KPMG Audit of USDT Reserves

Tether, the issuer of the USDT stablecoin, completed its first full financial audit conducted by KPMG U.S. for the fiscal year ending December 31, 2025. The audit resulted in an unqualified opinion, confirming that the company's financial statements fairly present its position under U.S. generally accepted accounting principles.

The findings reveal that Tether's reserves exceed its liabilities by $6.814 billion. Unlike previous quarterly attestations, this comprehensive process included testing transactions and systems, as well as a physical inspection and count of the company's gold bars.

This audit follows years of scrutiny regarding the stability of USDT, which maintains a market capitalization of over $180 billion and acts as a major buyer of U.S. government debt. CEO Paolo Ardoino noted that the completion of the audit addresses long-standing skepticism from detractors who claimed such a process could not be finished.