Tether says it completed long-promised ‘Big Four’ audit of finances behind $180 billion USDT stablecoin
KPMG U.S. examined Tether’s books and even counted its gold bars as the $180 billion USDT issuer said it completed its long-promised financial audit.
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Summary
- Tether said it has completed its first full financial audit, a step it had promised for years amid scrutiny of the reserves backing its USDT stablecoin.
- KPMG U.S. issued an unqualified opinion on firm’s 2025 financial statements, which showed reserves exceeding liabilities by $6.814 billion, the stablecoin issuer said.
- The audit goes beyond Tether’s prior quarterly attestations, as KPMG tested transactions, systems and assets, including a physical inspection of the company’s gold bars, in response to longstanding concerns about USDT’s stability and systemic risk, the firm said.
