Tether Undergoes Its First Full Independent Audit
Tether has received its first full, independent audit, conducted by KPMG US on its annual financial statements for 2025. The audit confirmed that Tether's reserves exceed its liabilities by $6.814 billion, providing a clean opinion that the financial reports are accurate according to U.S. accounting standards. This full audit, which examined annual transactions, internal controls, asset ownership, and valuation methods, goes beyond the company's previous quarterly attestations. Auditors notably physically verified the gold reserves backing the Tether Gold ($XAUt) token.
The company reported a net profit exceeding $10 billion for 2025, primarily from U.S. Treasury investments. Its flagship stablecoin, USDT, maintains market dominance with a capitalization of approximately $183 billion, accounting for about 61% of the total stablecoin market. Tether is diversifying its business, investing profits into ventures like a Brazilian crypto platform, an Argentine neobank, and an AI sleep technology firm, while ruling out an IPO for now.
This audit addresses long-standing scrutiny over Tether's reserve claims, such as a 2021 CFTC fine for misleading statements. However, it provides a snapshot as of December 31, 2025, rather than continuous monitoring, leaving the future frequency of such audits a key factor for ongoing trust from regulators and investors.
cryptonews.ru08/14 05:56
