Tether Completes First Full Audit with KPMG Unqualified Opinion

August 13, 2026 · Markets · CryptoRefuge Team

Tether has announced that KPMG U.S. issued an unqualified audit opinion on the financial statements of Tether International, S.A. de C.V. for the year ended December 31, 2025. This milestone marks a significant development in the stablecoin market, as Tether completes its first full audit.

Live market snapshot (at publish): USDT $0.9991 (+0.0% 24h)

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The audit opinion from KPMG U.S. confirms that Tether's financial statements are presented fairly and in accordance with the applicable financial reporting framework. > $6.81 billion in excess reserves and > $8.23 billion in excess reserve buffer demonstrate Tether's commitment to maintaining a strong financial position. The company reported a > $1.5 billion net operating profit, highlighting its ability to generate revenue while maintaining a stable financial foundation.

Tether has faced regulatory challenges, including a > $41 million fine imposed by the Commodity Futures Trading Commission in 2021. However, > $184.6 billion in USDT issued by Tether underscores the stablecoin's widespread adoption and usage. The company's gold reserves, totaling > 146 tons, provide an additional layer of security and stability for USDT holders.

Paolo Ardoino, Chief Executive Officer of Tether, stated: "For years, some detractors said an audit of Tether could not be completed. They said the Company refused to subject itself to the most rigorous scrutiny. We have once again proven them wrong. Completing our financial statement audit sets a new standard for the industry and reflects the leadership we’ve brought to this market from the start."

"For years, some detractors said an audit of Tether could not be completed. They said the Company refused to subject itself to the most rigorous scrutiny. We have once again proven them wrong. Completing our financial statement audit sets a new standard for the industry and reflects the leadership we’ve brought to this market from the start." — Paolo Ardoino, Chief Executive Officer of Tether

The completion of Tether's financial statement audit may enhance trust in USDT and influence regulatory frameworks. As the cryptocurrency market evolves, transparency and accountability will become increasingly important. Tether's audit completion is a significant step towards establishing a new standard for the industry.

Analysis: A positive view of the audit opinion from KPMG U.S. by regulators and investors could lead to increased adoption of USDT and other stablecoins. A break below the current stablecoin market capitalization would signal a potential shift in market sentiment, while a continued increase in USDT usage could lead to further growth in the stablecoin market. The upcoming quarterly attestation will provide further insight into Tether's financial position and commitment to transparency.