$USDT Audit Complete: Tether's Reserves Exceed Liabilities by $6.8 Billion
Tether International has completed its first full financial audit of its $180 billion USDT stablecoin, a move that has been years in the making. The audit was conducted by KPMG U.S., one of the 'Big Four' accounting firms, and covered Tether's financial statements for the year ended December 31, 2025.
The audit issued an unqualified opinion, meaning that KPMG found the statements to be fairly presented in all material respects under US generally accepted accounting principles. The audit showed that Tether's reserves exceeded liabilities by $6.814 billion at the end of 2025.
Tether has been promising a full audit for years, but critics had questioned why it hadn't undergone the same level of scrutiny as larger financial firms. Concerns about the stability and backing of USDT have surfaced from time to time, earning its own shorthand as 'Tether FUD.'