Tether Completes First Full Financial Audit with Unqualified Opinion from KPMG

Tether, the company behind the largest dollar-pegged cryptocurrency USDT, has completed its first full financial audit. The audit was conducted by KPMG U.S. and covered the year ended December 31, 2025. The result of the audit is an unqualified opinion, stating that Tether's financial statements fairly present the company's financial position, results, and cash flows in all material respects.

KPMG examined Tether's transactions, systems, valuations, business partners, and ownership records. They also physically counted and inspected Tether's gold bars. The audit found that Tether's reserves exceeded its liabilities by $6.814 billion.

This development marks a significant transition from regular quarterly attestation reports to a full financial audit for Tether's financial structure. However, KPMG's full audit report has not been released to the public yet.