Tether, the company behind the world’s largest stablecoin USDT, said Thursday that it had completed a full financial audit for the first time. As per its claim, it delivered on a transparency measure it had promised for years as questions lingered over the assets backing its token.
Tether Completes the Largest Inaugural Financial Audit in History
Read more: https://t.co/vWG0fFSUxH
— Tether (@tether) August 13, 2026
KPMG U.S., one of the “Big Four” accounting firms, audited Tether International’s financial statements for the year ended Dec. 31, 2025 and issued an unqualified opinion, Tether said. That means the accounting firm found the statements fairly presented Tether’s financial position, results and cash flows in all material respects under U.S. generally accepted accounting principles.
According to Tether, the accounts revealed that by the end of 2025, reserves were $6.814 billion more than liabilities.
A representative for KPMG U.S. said that the company provided an unqualified opinion on Tether International’s financial statements for 2025, but they are unable to talk further because of “client confidentiality.” Tether has not yet responded to CoinDesk’s inquiry on whether it would disclose KPMG’s findings.
After resolving a probe with the New York Attorney General’s office, Tether provided quarterly attestations for years, but this audit is an improvement. An attestation verifies certain details, such the quantity and makeup of reserves on a certain date. A financial audit examines a company’s records more thoroughly, examining transactions, assets, liabilities, income, cash flows, and the supporting documentation.
Tether declared in March that it has hired a “Big Four” accounting firm to do its first thorough audit.
Critics have questioned why a company of Tether’s scale hasn’t received the same kind of examination typical of major financial organizations, given the company’s repeated promises of a complete audit while depending on reserve attestations.
A possible systemic risk for digital assets has occasionally been raised by questions over the stability and support of its USDT token, a crucial component of the infrastructure for cryptocurrency trading and markets. In cryptocurrency circles, the ongoing argument became so well-known that it was given its own abbreviation, “Tether FUD.”
As USDT’s market capitalization surged to over $180 billion and Tether emerged as a significant purchaser of US government debt for reserve assets, the stakes have only increased.
“Some critics claimed an audit of Tether could not be finished for years,” CEO Paolo Ardoino said in a statement.
Wen Tether audit? nOw.
Today Tether announces its first full financial audit for Tether International, conducted by KPMG U.S. which resulted in an unqualified clean opinion, marking the highest result possible.
An unqualified opinion is the best possible audit opinion an… pic.twitter.com/quav6uUIhy— Paolo Ardoino 🤖 (@paoloardoino) August 13, 2026
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