Tether Clears First-Ever KPMG Audit, Revealing a $6.8B Cushion for Crypto Markets

Key Takeaways:

• Tether conducted its first independent financial statement audit by KPMG U.S.
• KPMG provided an unqualified opinion, the least adverse kind of audit opinion.
• Tether’s audited statements for 2025 indicate that its reserves total $6.814 billion, which is more than its liabilities.

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Tether has completed a major transparency milestone, putting its full 2025 financial statements through an independent Big Four audit for the first time. The review went beyond reserve reports, examining the company’s financial position, transactions, systems, assets and supporting records.

Read More: Tether Hires Big Four for First Full Audit, Boosting Trust

KPMG U.S. audited Tether International, S.A. de C.V. ‘s financial statements for the year ended December 31, 2025.

The auditor issued an unqualified opinion, meaning KPMG found that Tether’s financial statements fairly present the company’s financial position, results and cash flows in all material respects under U.S. generally accepted accounting principles.

That distinction is important for the stablecoin market. The audit of the financial statements goes beyond what Tether has previously published in independent attestations and has done for years.

KPMG conducted an examination of the company’s balance sheet, income statement and changes in equity, as well as cash flows. The process also included the transactions, ownership text, the valuations of assets, the counterparties, internal systems, and all paperwork.

Tether said the audited statements showed its reserves exceeded its liabilities by $6.814 billion at the end of 2025.

KPMG conducted an actual count of all the individual gold bars that have been held by Tether, in addition to relying on information provided by custodians or counterparties.

As an examination of the company’s assets, the auditor confirmed the existence and the information about the bars. This process was to be used to verify money-reporting in Tether’s financial statements based on the underlying evidence.

On Tuesday, Tether’s CEO Paolo Ardoino shared a statement highlighting the importance of the audit for both the company and the stablecoin sector, noting that the signed opinion is evidence of the company’s financial status, in addition to its previous reserve attestations.

The company has been appearing in its financial statements under a microscope from a big four accounting firm and it will raise its reporting standards even higher going forward, its CFO, Simon McWilliams, said.

The important part to the stable coin industry is the breadth of the review. The quarterly reserve attestations are mainly about whether assets to support issued tokens are present at the time. A full financial statement audit takes into account all of the financial since, assets, liabilities and financial transactions, income and cash flows, etc.

Now, thanks to an independent KPMG opinion, Tether will have a clearer financial picture into 2025, and the company shows a surplus of $6.814 billion.

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