Tether Clears First Full Audit with Unqualified Opinion from KPMG

Tether, the company behind the largest stablecoin USDT, has completed its first full financial statement audit. KPMG U.S. issued an unqualified opinion on Tether's financial statements for the year ended December 31, 2025.

The audited statements show that Tether's reserves exceeded liabilities by $6.81 billion.

KPMG physically counted and inspected every individual gold bar held by Tether, verifying its existence and identifying information.

Tether has been working towards this milestone for years, with previous attempts resulting in partial audits or attestation reports that only checked reserves at a point in time.