Tether completes first full financial audit, receives clean KPMG opinion
KPMG’s audit covered Tether’s 2025 financial statements and found its reserves exceeded liabilities by $6.8 billion.
Tether, the issuer of the world's largest stablecoin USDT, has completed its first full financial audit, receiving a clean opinion from global accounting firm KPMG. The audit covered Tether's 2025 financial statements and concluded that the company's reserves exceeded its liabilities by approximately $6.8 billion, marking a significant milestone in the firm's financial transparency efforts.
Tether has long faced scrutiny over the composition and sufficiency of its reserves, with critics and regulators questioning whether USDT was fully backed. For years, the company relied on attestations rather than full audits — a distinction that left many institutional investors and policymakers unsatisfied. A comprehensive audit by a Big Four accounting firm represents a substantially higher standard of verification than the periodic reserve reports Tether had previously published.
The completion of a KPMG audit carries considerable weight for the broader stablecoin industry, which is navigating an increasingly active regulatory environment in both the United States and Europe. Demonstrated reserve adequacy through independent audit could strengthen Tether's position as regulators in multiple jurisdictions move toward requiring formal audits as a baseline compliance standard for stablecoin issuers.
Going forward, market observers will be watching whether this audit accelerates institutional adoption of USDT, influences pending stablecoin legislation, and prompts competing stablecoin issuers to pursue similar levels of financial disclosure.
Source: Cointelegraph
