Tether gets clean bill of health from KPMG audit
Tether, the company behind the leading stablecoin USDT, has received an unqualified opinion from Big Four accounting firm KPMG on its 2025 financial statements.
The audit examined Tether’s assets, liabilities, income, cash flows, internal systems, records, counterparties, and supporting documentation.
Tether has spent years fending off questions about whether USDT is truly backed, and has previously paid an $18.5 million settlement to New York and a $41 million fine to the CFTC.
The audit’s results may help alleviate concerns about USDT’s backing, with KPMG physically counting and inspecting every individual gold bar Tether holds.