Morning Minute: Tether Finally Gets An Audit
Tether said KPMG gave its 2025 financial statements an unqualified opinion, the strongest possible audit result. KPMG reportedly reviewed Tether’s assets, liabilities, cash flows, internal controls, records, counterparties, and supporting documents, and physically inspected each gold bar Tether holds. This is a major milestone after years of criticism over USDT’s reserves, especially given Tether’s past regulatory settlements over reserve misstatements. The clean audit supports Tether’s push into the U.S. market, including a domestic stablecoin and expansion under the GENIUS Act framework. It also strengthens Tether’s position against Circle, which has long marketed itself as the more transparent, regulated alternative. Tether is now framing itself as a mature, highly profitable stablecoin giant with substantial Treasury holdings and improved credibility.
