Tether Completes First Full Financial Audit of 2025 Accounts
KPMG said Tether’s statements fairly presented its finances, and the company reported $6.814 billion in reserves above liabilities.
- Tether completed the first full independent audit of its 2025 financial statements on Dec. 31, 2025, with KPMG issuing a clean opinion on the company's balance sheet, income statement, and cash flows.
- With a roughly $183 billion market capitalization, Tether accounts for about 61% of the $301 billion stablecoin market, more than twice the roughly $72 billion held by Circle's USDC.
- KPMG physically inspected and counted Tether's gold holdings, verifying each bar rather than relying on custodian records; audited statements showed reserves exceeded liabilities by $6.814 billion.
- Expanding beyond stablecoins, the company invested $20 million each in Argentine neobank Ual and Brazilian crypto platform Mercado Bitcoin this year, while Tether Gold reserves rose 9.5% in the second quarter.
- Despite Tether's growth, Tether CEO Paolo Ardoino has shown little interest in a Tether IPO, as the issuer generated more than $10 billion in net profit in 2025 and $1.5 billion in second-quarter operating profit from Treasury holdings.
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Tether Says KPMG Signed Off on Its 2025 Books, Closing Out a Promise That Dated to 2017
Tether said Thursday it completed its first full financial statement audit, with KPMG U.S. issuing an unqualified opinion on the 2025 accounts of Tether International, S.A. de C.V., the entity that issues the USDT stablecoin. An unqualified opinion, also called a clean opinion, comes without reservations, exceptions or caveats and is the strongest verdict an independent auditor can deliver. The audit covered the year ended Dec. 31, 2025 and was …
Stablecoin issuer Tether says KPMG US has audited its 2025 statements
By Elizabeth Howcroft PARIS, Aug 14 (Reuters) - El Salvador-based Tether, which issues the world's largest stablecoin, said KPMG U.S. had performed a "full independent audit" of its financial statements for the first time. The audit, which was not ma...
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ussanews.com“No Rock Left Unturned”: Tether Completes Independent Audit Of Reserves With KPMG
“No Rock Left Unturned”: Tether Completes Independent Audit Of Reserves With KPMG Stablecoin giant Tether has announced that KPMG U.S. completed the first independent audit of its reserves after years of struggling to get a Big Four accounting firm to do so. The San Salvador-based company, which issues the largest stablecoin in existence, USDT, said the audit was “the largest inaugural financial audit in history.” Tether Completes the Largest …
"No Rock Left Unturned": Tether Completes Independent Audit Of Reserves With KPMG
"No Rock Left Unturned": Tether Completes Independent Audit Of Reserves With KPMG Stablecoin giant Tether has announced that KPMG U.S. completed the first independent audit of its reserves after years of struggling to get a Big Four accounting firm to do so. The San Salvador-based company, which issues the largest stablecoin in existence, USDT, said the audit was “the largest inaugural financial audit in history.” Tether Completes the Largest I…
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