1 month ago
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Key Takeaways
- KPMG issued Tether a clean audit opinion.
- Reserves exceeded liabilities at year-end.
- KPMG physically inspected Tether’s gold holdings.
- The complete signed audit is not public.
The scale makes the milestone difficult to dismiss as a routine accounting exercise. Tether has grown into one of the world’s largest holders of U.S. government debt, with more than $140 billion in Treasury exposure, while USDT sits at the center of a stablecoin market used across exchanges, payments and emerging markets.
Tether announced on August 13 that KPMG U.S. audited Tether International, S.A. de C.V. for the year ended December 31, 2025 and issued an unqualified opinion. The audited accounts showed reserves exceeding liabilities by $6.814 billion, while KPMG examined the balance sheet, income statement, cash flows, changes in equity and the records supporting them.
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