'Honestly, I don't care': Tether CEO dismisses critics following first KPMG audit

What happened

The CEO of Tether, the issuer of USDT stablecoin, brushed off criticism after the company completed its first audit by KPMG, stating he “doesn’t care.” Tether confirmed it does not publicly release audited statements because it is a private firm.

Confirmed

Global impact / market context

This shows Tether is not obligated to disclose audited results, limiting transparency for investors holding USDT and could affect confidence in the stablecoin’s backing, influencing how regulators and users view its reliability in the broader crypto market.

Analyst inference

The stablecoin market has faced scrutiny over reserve claims; Tether’s USDT remains the largest dollar‑pegged token, and limited audit disclosure comes as other issuers are increasing public reporting, shaping competitive dynamics for investors seeking reliable stablecoins.

Confirmed

What to watch

1. Look for any future KPMG or third‑party audit releases from Tether, as public sharing could improve transparency and potentially strengthen USDT’s market confidence. Analyst inference
2. Monitor regulatory inquiries or guidance on private stablecoin issuers, since increased oversight may compel Tether to disclose more financial information or adjust its reporting practices. Analyst inference
3. Track USDT trading volumes and market share; sustained high usage despite limited audit visibility suggests resilience, but any decline could signal reduced confidence in the token’s backing. Analyst inference

Affected assets

• USDT — Tether

Evidence

• theblock.co