Tether Completes Landmark KPMG Audit, Verifying Reserves Down to Every Gold Bar Amid Push for U.S. Expansion

Tether, the issuer of the world's largest stablecoin USDT with a market cap exceeding $183 billion, announced on August 13, 2026, that KPMG U.S. has completed the company's first full independent financial statement audit, issuing an unqualified opinion on its 2025 financials. The audit, described by Tether as the largest inaugural financial audit in history, included physical verification of every gold bar in its reserves rather than relying on custodian reports, along with independent testing of all assets and liabilities. This marks a significant shift from prior limited-scope attestations, addressing years of criticism over transparency. The move follows Tether's March 2026 engagement with KPMG for the audit, alongside PwC for internal preparations, as the company eyes U.S. market expansion and compliance with emerging regulations like the GENIUS Act. Reserves reportedly include substantial U.S. Treasuries, gold, and nearly $60 billion in Bitcoin, with the audit confirming assets exceed liabilities by billions. Industry observers note this could enhance institutional trust and set precedents for stablecoin oversight, directly affecting the daily operations and risk assessments of crypto users and investors reliant on USDT liquidity. Earlier talks with Big Four firms were reported as far back as 2025, underscoring the prolonged scrutiny now resolved.