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KPMG Completes Full Audit of Tether's 2025 Financial Statements
KPMG U.S. finished a full audit of Tether's 2025 financial statements for Tether International, S.A. de C.V., and issued an unqualified opinion, the highest audit conclusion, confirming the company's reported balances.
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What happened
KPMG U.S. finished a full audit of Tether’s 2025 financial statements for Tether International, S.A. de C.V., and issued an unqualified opinion, the highest audit conclusion, confirming the company's reported balances.
Confirmed
Global impact / market context
An unqualified audit gives investors confidence that Tether’s USDT reserves and accounting are reliable, which can support its use as a stablecoin and reduce regulatory scrutiny, potentially encouraging more businesses to hold or transact in USDT.
Analyst inference
Stablecoins like USDT dominate crypto trading, accounting for a large share of daily volume. Recent concerns about reserve transparency have pressured other issuers, so Tether’s clean audit may set a benchmark and influence market trust.
Analyst inference
What to watch
- Regulators may cite the audit when assessing stablecoin oversight, so watch for new guidance or rules that could tighten reporting requirements for Tether and similar issuers. Analyst inference
- Investors could increase USDT holdings if they trust the audit, so monitor changes in on‑chain USDT supply and trading volumes for signs of growing confidence. Analyst inference
- Tether may use this audit as a template for future years, so watch for announcements of subsequent audits and any adjustments to reserve composition that could affect its stability. Analyst inference
Affected assets
- USDT — Tether