Crypto
Home›Crypto›Stablecoins›Tether completes first full KPMG audit of USDT reserve…
Tether completes first full KPMG audit of USDT reserves backing
KPMG U.S. issued an unqualified opinion on Tether International’s 2025 financial statements, showing reserves exceeding liabilities by $6.8 billion.
Tether said it has completed a long-promised full financial audit for its USDT stablecoin reserves, extending beyond the quarterly attestations the company has published for years. CoinDesk reports that the audit was conducted by KPMG U.S. and resulted in an unqualified opinion on Tether International’s 2025 financial statements, covering the year ended Dec. 31, 2025.
According to Tether, the audited financials showed reserves exceeding liabilities by $6.814 billion at the end of 2025. The company said the audit goes further than attestation work by testing transactions, systems, and assets, and it included a physical inspection of Tether’s gold bars.
Tether said KPMG examined areas including transactions, systems, valuations, counterparties, and ownership records, in response to longstanding questions about whether USDT’s backing is sufficient and what risks the stablecoin could pose to the broader financial system. CoinDesk notes it asked Tether whether it will share the KPMG findings and received no response yet.
The audit is part of Tether’s broader transparency push that it began after years of scrutiny of USDT reserves. CoinDesk adds that Tether previously settled an investigation with the New York Attorney General’s office and that it hired a Big Four accounting firm in March to conduct its first full audit.
Latest closeGold $4,467.10 ▲1.9%