Tether says it completed long-promised 'Big Four' audit of finances behind $180 billion USDT stablecoin
KPMG U.S. examined Tether's books and even counted its gold bars as the $180 billion USDT issuer said it completed its long-promised financial audit.
Tether, the issuer of the world's largest stablecoin USDT, announced on Thursday that it has completed its first-ever comprehensive financial audit, fulfilling a transparency promise it has made for years. The audit, conducted by KPMG U.S., one of the prestigious "Big Four" accounting firms, resulted in an unqualified opinion on Tether International's financial statements for the year ending December 31, 2025.
This means KPMG found the statements to be fairly presented in all material respects according to U.S. Generally Accepted Accounting Principles. The audit revealed that Tether's reserves surpassed its liabilities by $6.814 billion at the end of 2025. While Tether has previously offered quarterly attestations, an audit provides a more thorough examination of a company's financial records, including transactions, assets, liabilities, income, cash flows, and supporting evidence.
KPMG assessed Tether's transactions, systems, valuations, counterparties, and ownership details, even physically counting and inspecting the company's gold bars. Tether first disclosed its plan to hire a "Big Four" accounting firm for a full audit in March. The audit follows years of scrutiny over the stability and backing of USDT, which has reached a market capitalization of over $180 billion, making Tether a significant player in the U.S. government debt market as well.
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