Tether completes first full audit, reporting $6.814 billion reserve surplus at end-2025
AI Market Summary
Tether's first full independent audit by KPMG U.S. delivered an unqualified opinion, addressing long-running transparency concerns around USDT's backing. Audited figures show reserves exceeded liabilities by $6.814B at 2025 year-end, alongside strong 2026 Q2 operating profit driven by U.S. Treasury and repo income. The firm also added 14 tons of physical gold, reinforcing official-sector-like demand for bullion and tightening its linkage to gold markets.
Impact level
● High
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NCCOGOLD2USD/USDT-0.91%
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▲ Bullish
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Tether Holdings Ltd. said it has completed its first full audit of its financial statements, with the results showing its reserves were sufficient. At the end of 2025, reserves exceeded liabilities by $6.814 billion. In the second quarter of 2026, the company reported $1.5 billion in net operating profit, largely driven by income from U.S. Treasurys and repurchase agreements. As of June 30, it reported $187.75 billion in assets and $183.64 billion in liabilities, leaving a $4.11 billion reserve buffer, and added 14 tons of gold during the quarter.
