Tether Completes Historic Audit of Reserves with KPMG
Tether, the company behind the largest stablecoin in existence, USDT, has completed its first independent audit of reserves with KPMG U.S. The audit, which took place on August 13, 2026, is being hailed as the largest inaugural financial audit in history.
KPMG physically verified gold bars and performed independent substantive testing to verify Tether's assets. According to Arkham Intelligence, Tether holds nearly $60 billion in Bitcoin, large U.S. Treasury positions, and has upped its gold buys in recent years.
Tether CEO Paolo Ardoino said the company 'has once again proven them wrong' by completing the audit, which sets a new standard for the industry. With a market cap of over $183 billion, USDT is now one of the most financially significant and operationally sophisticated private companies in the world.