Tether Completes Long-Awaited Full Audit, Declines to Ruin Suspense by Showing Anyone
Stablecoin issuer Tether announced this week that KPMG U.S. has completed a full audit of its 2025 financial statements, finally answering years of demands for independent verification by declining to immediately let anyone read it.
The audit represents a major milestone for Tether, which has spent much of its existence assuring skeptics that its reserves are completely fine, extremely real, and frankly a little hurt you would even ask.
“We wanted to provide the market with the highest possible level of transparency,” a person familiar with the audit said, “while carefully avoiding the kind of reckless transparency where people can actually see things.”
Tether has long published attestations regarding the assets backing USDT, but critics have repeatedly called for a comprehensive audit. The completion of one is therefore expected to silence skeptics as soon as the company completes the optional second step of showing it to them.
Industry observers praised the development.
“This is huge,” said one crypto analyst. “For years, people asked whether Tether could withstand a full independent audit. Now we know it can withstand having one performed.”
At press time, USDT remained pegged to the dollar, confidence remained high, and the audit remained safely backed one-to-one by assurances that it definitely exists.
