Tether announced the completion of a full, independent audit of its financial statements for 2025, conducted by KPMG US. This is the largest initial financial audit in history and a significant milestone for the entire stablecoin industry.
KPMG issued an unqualified opinion—the most positive form of auditor’s opinion. As part of the audit, KPMG physically counted every gold bar held by Tether and verified the entire balance sheet, including reserve assets and obligations related to issued tokens.
The company’s CFO, Simon McWilliams, noted that the audited financial statements as of the end of 2025 show reserves exceeding liabilities by $6.814 billion.
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