Tether Secures First Independent Audit with KPMG US
Tether, the issuer of the world's largest stablecoin, has announced that KPMG US has conducted a full independent audit of its financial statements for 2025. This move is seen as an attempt to reassure markets about Tether's finances following increased scrutiny of crypto companies.
The audit shows that Tether's reserves exceeded its liabilities by $6.8 billion, according to the company's chief financial officer. This is a significant milestone for Tether, which has faced criticism over its lack of transparency in the past.
KPMG US physically counted every gold bar held by Tether as part of the audit, and the firm issued an unqualified opinion on Tether International, S.A. de C.V.'s financial statements. While the full details of the audit are not publicly available due to client confidentiality, this marks a significant step towards greater transparency for Tether.