Tether has completed its first full independent financial statement audit, with KPMG U.S. issuing an unqualified opinion on the stablecoin issuer’s 2025 financial statements.
KPMG said Tether International’s 2025 financial statements accurately reflected the company’s financial position, results and cash flows under U.S. accounting standards.
The unqualified opinion means KPMG found no material issues that required qualifications or exceptions.
The audit went beyond Tether’s existing quarterly reserve attestations and examined its balance sheet, income statement, changes in equity and cash flows, as well as supporting transactions, systems, ownership records, valuations and counterparties.
KPMG also physically inspected and counted Tether’s individual gold bars as part of its verification work, according to the company.
