Tether Secures Unqualified Opinion from KPMG in First Full Financial Audit
Tether has completed its first full independent financial statement audit, with KPMG U.S. issuing an unqualified opinion on the 2025 financial statements of Tether International.
An unqualified opinion, or 'clean audit opinion,' means the auditor issued its conclusion without reservations, exceptions, or qualifications.
The audit covered Tether International's complete financial statements for the year ended Dec. 31, 2025, and was conducted under standards established by the American Institute of Certified Public Accountants.
KPMG reviewed the balance sheet, including assets backing USDT and liabilities represented by tokens in circulation, as well as the income statement, changes in equity, and cash flow statements.
Tether said KPMG physically inspected and counted individual gold bars held by the company rather than relying on reports supplied by custodians or other counterparties.
The audited statements reported that reserves exceeded liabilities by $6.8 billion at the end of 2025, according to Tether Chief Financial Officer Simon McWilliams.