Crypto
Home›Crypto›Stablecoins›Tether CEO dismisses critics after first KPMG audit
Tether CEO dismisses critics after first KPMG audit
Tether says KPMG U.S. issued an unqualified opinion on its 2025 financial statements, and the company plans to run full audits annually while continuing quarterly attestations.
Tether CEO Paolo Ardoino dismissed ongoing criticism of the stablecoin issuer after KPMG U.S. completed its first full financial audit, arguing that some critics cannot accept that they were wrong.
Ardoino told The Block that Tether does not publicly share its audited statements because it is a private company. He said Tether plans to conduct full audits annually, while continuing quarterly attestations.
He also pointed to Tether's prior ability to process large withdrawals, saying the company redeemed $7 billion in 48 hours in 2022, about 10% of reserves at the time, without stopping redemptions. Ardoino added that he is comfortable being viewed as a villain by critics if Tether can keep serving the 650 million users the company says rely on USDT, especially in emerging markets.
Tether announced Thursday that KPMG U.S. issued an unqualified opinion on the 2025 financial statements of Tether International, S.A. de C.V., sometimes described as a clean opinion. Some concerns were raised that the audit covered a subsidiary or operating company rather than the ultimate parent’s audit or a full consolidated group view, according to The Block.