Tether Completes Largest Inaugural Audit with Unprecedented Scale

Tether, the issuer of the world's largest stablecoin USDT, has completed its first full independent financial statement audit. The audit, conducted by Big Four accounting firm KPMG U.S., resulted in an unqualified opinion on Tether's 2025 financial statements.

The CEO of Tether, Paolo Ardoino, described the audit as 'unprecedented in scale,' stating that it was 'the largest inaugural audit in the history of finance' by at least an order of magnitude. The audit went beyond verifying a snapshot of Tether's reserves, examining the full balance sheet, including assets backing USDT.

KPMG physically counted and inspected every individual gold bar held by Tether, verifying each bar's existence and identifying information rather than relying solely on reports provided by custodians or counterparties. This marked a significant shift for Tether, which has long maintained that USDT is backed by reserves but historically did not provide full financial audits as demanded by critics.