{
  "id": 806024,
  "title": "Tether completes first full financial audit, receives clean KPMG opinion",
  "url": "https://urgent.news/2026/08/13/tether-completes-first-full-financial-audit-receives-clean-kpmg",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-13T20:43:12.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/tether-completes-first-full-financial-audit-receives-clean-kpmg-opinion"
  },
  "original_language": "en",
  "account": "KPMG completed Tether's first full independent audit of its 2025 financial statements, issuing an unqualified opinion that the company's reserves exceed its liabilities by $6.814 billion. The audit examined Tether's balance sheet, income statement, and cash flows, including the assets backing its issued tokens and the liabilities they represent. Unlike regular reserve attestations, this full audit scrutinized transactions, systems, ownership records, valuations, and counterparties. KPMG physically inspected and counted Tether's gold holdings, verifying each bar instead of relying on custodian records alone. Tether, founded in 2014, is now one of the largest crypto companies, generating over $10 billion in net profit in 2025, primarily through its USDt stablecoin (USDT). The stablecoin's $183 billion market capitalization accounts for about 61% of the $301 billion crypto stablecoin market. Tether has also invested in Argentine neobank Ualá, Brazilian crypto platform Mercado Bitcoin, and AI sleep technology company Eight Sleep. However, CEO Paolo Ardoino has shown little interest in taking Tether public, dismissing IPO speculation in June 2025.",
  "summary": "KPMG’s audit covered Tether’s 2025 financial statements and found its reserves exceeded liabilities by $6.8 billion.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}