Key facts
- Tether completed its first independent financial audit for fiscal year 2025.
- KPMG US conducted the audit.
- KPMG US issued an unqualified opinion on Tether's financial statements.
- The audit confirmed Tether's reserves exceeded liabilities by $6.814 billion.
- This audit aims to enhance transparency for Tether.
Tether has successfully completed its inaugural independent financial audit for the fiscal year 2025. The audit was conducted by KPMG US, a prominent accounting firm, which issued an unqualified opinion. This means KPMG found no material misstatements or scope limitations in Tether's financial statements. The audit confirmed that Tether's reserves exceeded its liabilities by a substantial margin of $6.814 billion. This achievement is a key development for Tether, aiming to bolster confidence and transparency in its operations and the broader digital asset ecosystem. The unqualified opinion from a major accounting firm like KPMG is expected to address long-standing concerns regarding the backing of its stablecoin.