Tether Claims 'Largest Inaugural Financial Audit' as KPMG Signs Off on 2025 Statements

August 14, 2026 - 01:42

Tether announced that KPMG has issued a clean audit opinion on its 2025 financial statements, calling it the largest inaugural financial audit in the company's history. The move marks a significant shift for the stablecoin issuer, which has faced years of scrutiny over the actual reserves supporting its USDT token.

The audit covers the full 2025 fiscal year and includes verification of Tether's consolidated assets, liabilities, and equity. According to the company, KPMG's review confirmed that the reported figures fairly represent its financial position. Tether has long claimed that every USDT in circulation is fully backed by liquid reserves, but independent verification has been inconsistent. Previous audits were often limited to attestations or reports from smaller firms, which critics said lacked the rigor of a major global accounting network.

This KPMG sign-off does not end all debate. The audit confirms the numbers as presented, but it does not independently value every asset in the reserve portfolio. Tether's holdings include U.S. Treasuries, money market funds, and other investments, and the company has previously faced questions about the quality and liquidity of some of those assets. Still, the involvement of a Big Four firm carries weight. It signals that Tether is willing to open its books to a level of external review that was once considered unlikely.

The announcement comes as stablecoin regulation tightens in several jurisdictions, with lawmakers pushing for mandatory audits and transparent reserve reporting. Tether's move may be an attempt to get ahead of those rules and reassure institutional users who have been cautious about holding USDT. The company said the audit process took several months and involved extensive documentation and testing. It also noted that KPMG will continue to review its statements on an ongoing basis, which could lead to more routine audits in the future.

For now, the clean opinion is a public relations win for Tether. But the real test will be whether the company can maintain that standard consistently and whether regulators and exchanges treat the KPMG sign-off as sufficient proof of solvency. The stablecoin market remains competitive, and trust is the main currency.