The stablecoin issuer confirmed its first full audit by a Big Four firm, including verification of gold reserves backing USDT.
Tether announced it has finalized a long-awaited audit of its $180 billion USDT stablecoin reserves, conducted by KPMG U.S. The review included an examination of financial records and a physical count of gold bars held by the issuer.
The audit fulfills a years-long pledge by Tether to provide transparency amid regulatory scrutiny. Previous attestations by smaller firms had left questions about the composition and sufficiency of reserves backing the world’s largest stablecoin.
No immediate market reaction was reported following the announcement, though the audit could ease concerns among institutional investors and regulators.