Tether Wraps Up Biggest-Ever KPMG Audit, Receives Unqualified Opinion
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Tether reports completion of a full independent audit by KPMG U.S. with an unqualified opinion, including onsite inspection of all gold bars held. It states reserve assets exceeded liabilities by $6.814B at year-end 2025. The development strengthens perceived reserve quality and operational controls, which can improve confidence in Tether-related collateral and gold-backed crypto instruments, while reducing near-term transparency and counterparty concerns.
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ChainCatcher reports that digital asset company Tether has completed a full independent audit by KPMG U.S. of the financial statements of Tether International, S.A. de C.V. as of December 31, 2025. KPMG U.S. issued an unqualified opinion.
According to Tether, the audit examined transactions, systems, ownership records, valuations, counterparties, and the supporting evidence underlying the financial statements. It also covered the balance sheet, income statement, statement of changes in equity, and cash flow statement. KPMG U.S. additionally performed an onsite count and inspection of every gold bar held by Tether.
Chief Financial Officer Simon McWilliams said the 2025 audited financial statements show Tether's reserve assets exceed its liabilities by $6.814 billion. Tether said the audit marks a major step in advancing its long-standing commitment to financial transparency.
