Tether, issuer of the USDT (CRYPTO: $USDT) stablecoin, says it has completed the first independent audit of its financial statements. The audit has been completed by accounting giant KPMG, which issued an unqualified opinion on Tether's finances after reviewing its 2025 accounts and a $6.81 billion U.S. reserve. The auditors reportedly examined transactions, systems, valuations, counterparties, ownership records, and supporting documents at Tether.
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An unqualified opinion means the auditor did not attach reservations, exceptions, or qualifications to its conclusion. Tether called it a "clean audit." The audit comes as Tether looks to establish a presence in the U.S. Currently, Tether operates USDT through an issuer outside of America and is headquartered in El Salvador.
Tether is a private company whose stock does not trade on a public exchange. USDT is a stablecoin whose value is pegged 1:1 to the U.S. dollar.
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