#TetherFirstFullAudit
About TetherFirstFullAudit
Tether announced its first full independent audit Aug 13. KPMG U.S. issued an unqualified opinion on Tether International's 2025 statements. It covered financial statements and reviewed reserves, token liabilities, systems, valuations and counterparties. At year-end, audited reserves exceeded liabilities by $6.814B. This strengthens USDT transparency and reserve credibility, but markets watch disclosure scope, whether full audits become regular, and if stablecoin transparency standards rise.
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BREAKING: Tether just got its first full independent financial statement audit by KPMG.
And it was unqualified, the cleanest audit opinion possible.
KPMG verified Tether’s assets, liabilities, transactions, systems, counterparties, valuations AND physically inspected every gold bar.
Tether also had $6.814B more reserves than liabilities.
Years of “Tether is a fraud” FUD just got a lot harder to defend.
KPMG's unqualified opinion on Tether International's 2025 financials marks a shift from periodic attestations to full audited disclosure, arriving five years after the reserve transparency settlements that first put the company under regulatory scrutiny.
> KPMG US issued an unqualified "clean" opinion on Tether International's full 2025 financial statements, covering the balance sheet, income statement, equity changes, and cash flows.
> The audit found Tether's reserves exceeded liabilities by $6.8B as of December 31, 2025, according to new CFO Simon McWilliams.
> KPMG physically inspected every gold bar in Tether's reserves rather than relying on custodian reports, the company said.
> Tether had promised a full audit since 2017, when an earlier attempt with Friedman LLP ended without completion.
> The Financial Times previously reported PwC was hired to prepare Tether's internal systems for audit, but Tether's announcement did not mention PwC's role.
Almost clocking in 10 years here in this space.
And to this day I've still often had to debate people that tether is completely and absolute safe.
Even without knowing the audit:
- They make the MOST profit of any crypto company (even more than BlackRock!)
- They survived every bear market AND has been here the longest.
They literally make BILLIONS every year in pure profit (you read this correctly).
Tether depegging or going bankrupt is the least probable outcome of all stablecoins (only USDC comes close).
Now the audit arrives and people will likely be surprised but tether has never been in trouble imo.
If they were then you don't want to hold any other stablecoin either!
Tether just got their full audit
KPMG. Big Four. Clean opinion.
Reserves over liabilities by $6.8 billion.
They even counted the gold bars.
This has been hanging over the stablecoin market for years.
The biggest issuer now has a real audit by one of the largest parties
Paolo Ardoino 🤖
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 independent auditor can issue.
(“unqualified” in accounting jargon means without reservations — not that the audit was incomplete).
Tether’s financial audit, by at least an order of magnitude, is the largest inaugural audit in the history of finance. My congratulations go to the entire Tether team and especially to our Finance function, which demonstrated its ability, precision and commitment to complete this review process within the highest standards across the whole digital assets and global financial industry. We couldn’t be more proud.
Despite our Company being subject to several years of detractors’ false claims, competitors lies, political attacks and misinformed coverage by several mainstream newspapers trying desperately to discredit us for the benefit of their friends in the tall ivory towers, Tether delivered what it promised: a full financial audit issued by a Big Four accounting firm, KPMG U.S.
Tether created the stablecoin industry with USD₮ in 2014, revolutionizing the whole financial industry. Today everyone talks about stablecoins, yet it all started 12 years ago, with a tiny team and a big mission. We were there when no one else could understand the disruptive potential of what we invented.
Our Company has evolved into one of the most financially significant and operationally sophisticated private companies in the world. This audit demonstrates that our financial infrastructure and governance have evolved alongside that responsibility. Today, more than 650 million users across all emerging markets continue to rely on Tether daily, choosing USD₮ as their currency, for their life savings, for their commerce, for the future of their children. These are people that have been left behind by the traditional financial system and they trust our Company to remain resilient amidst all the global uncertainty that plagues the world - the proof of that stability is no longer just a Tether promise; it's now an independent signed opinion.
“Never cared for what they say
Never cared for games they play
Never cared for what they do
Never cared for what they know
And I know
Nothing Else Matters”
Tether’s first full independent audit is more consequential as a governance milestone than as a snapshot of reserves. KPMG U.S. issued an unqualified opinion on Tether International’s 2025 financial statements, covering reserves, token liabilities, systems, valuations and counterparties; audited reserves exceeded liabilities by $6.814B at year-end.
The measured test now is repetition. If full audits become regular and disclosure scope remains meaningful, the impact could extend beyond USDT by raising the transparency benchmark for stablecoin issuers. One clean opinion strengthens credibility, but a durable standard requires consistency. Not advice, just analysis.
#TetherFirstFullAudit
