KPMG Gives Unqualified Stamp to Tether's 2025 Financials
Tether International, the company behind the largest stablecoin USDT, has announced that Big Four accounting firm KPMG has issued an unqualified opinion on its 2025 financial statements. This audit marks a significant milestone for Tether, which has faced years of scrutiny over its backing and expansion plans in the US.
The audit found no major problems with the way Tether's financial statements were presented, but it does not guarantee that the company can meet its obligations. The review included an examination of Tether's assets, liabilities, income, cash flows, internal systems, records, counterparties, and supporting documentation.
Tether CEO Paolo Ardoino celebrated the audit as evidence of the company's growth and sophistication. 'Our company has evolved into one of the most financially significant and operationally sophisticated private companies in the world,' he wrote on X. The audit follows a series of high-profile settlements and fines, including an $18.5 million fine paid to the state of New York in 2021.