Tether completes first full financial audit, receives clean KPMG opinion

JUST IN: Tether completes its first full financial audit, receiving a clean opinion from KPMG, with reserves exceeding liabilities by $6.8 billion.

The most doubted balance sheet in crypto just passed a real audit.

Tether, the company behind USDT, completed its first full independent audit, and KPMG signed off with a clean opinion. Not the quarterly attestations they've published for years, an actual audit of the 2025 books, transactions, counterparties, the lot. Reserves came in six point eight billion dollars above liabilities. KPMG even physically counted the gold bars, one by one, rather than trusting the custodian's paperwork.

Remember, for over a decade the loudest theory in crypto was that Tether's backing was smoke. Paolo Ardoino gets to enjoy this one. His company made over ten billion in profit last year and USDT sits at roughly a hundred and eighty three billion, more than double Circle's USDC.

The wildest part is what didn't happen. No IPO, no bank charter, no begging for legitimacy. The most audited-averse company in crypto just out-audited its critics.

This is Kateryna Kovalenko, reporting for HIT.

Source Read the original reporting at cointelegraph.com