Tether Engages KPMG for First Full Audit of $184 Billion USDT Reserves

Tether has engaged KPMG to conduct its first full independent financial statement audit, marking a significant step for the issuer of the $184 billion USDT stablecoin. The move brings Big Four oversight to the company after years of relying on periodic reserve attestations rather than a comprehensive audit.

To support the process, Tether has also brought in PwC to help prepare its internal systems and financial reporting structure. Tether CEO Paolo Ardoino stated that the audit reflects years of work aimed at strengthening transparency and meeting global financial standards.

Previously, Tether relied on monthly attestations from BDO Italia confirming asset backing, but these reports did not provide the same level of detail as a full financial audit.

USDT Market Position and Funding Plans Remain in Focus

USDT remains the largest stablecoin in circulation, accounting for approximately $184.2 billion of the total $298.9 billion stablecoin market. The company is also exploring funding plans, with discussions pointing to a potential $5 billion capital raise, reduced from earlier expectations of up to $20 billion.

The transition to a full audit signals growing pressure for transparency across the stablecoin sector.

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