KPMG issues clean opinion on Tether's first full financial statement audit
AI Market Summary
KPMG's unqualified opinion on Tether's first full financial statement audit since 2014 improves the credibility of USDT reserve disclosures, including physical inspection of gold holdings and a reported $6.81B reserve surplus. This reduces perceived stablecoin counterparty and liquidity risk after prior regulatory scrutiny (CFTC fine in 2021). Lower stablecoin risk premia can support broader crypto market functioning and collateral confidence in the near term.
Impact level
● High
Affected assets
BTC/USDT+0.02%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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KPMG has completed the first full audit of Tether's financial statements, issuing an unqualified opinion on Tether International's 2025 balance sheet, income statement and cash flow statement. The audit included physical inspection of each gold bar held in reserve, rather than relying solely on custodian reports.
Tether said reserves exceeded liabilities by $6.81 billion at year-end. The stablecoin issuer had not completed a full audit since 2014 and paid a $41 million fine to the U.S. Commodity Futures Trading Commission (CFTC) in 2021 over statements related to its reserves.
