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Tether selects KPMG to audit its $185B USDT reserves, marking a major step toward transparency and regulatory alignment.
Author: Arushi Garg
Steady attention without excessive speculation.
28 March 2026: Tether has selected Big Four accounting firm KPMG to conduct its first-ever full financial statement audit. The move marks a major transparency upgrade for the issuer of USDT, the world’s largest stablecoin, after years of criticism and limited quarterly attestations from smaller firms. This full audit is expected to provide comprehensive independent verification of Tether’s reserves and financial position.
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Jasper 🌰
@oknextlin
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Tether has selected KPMG to conduct a full audit of its approximately $185 billion USDT reserves and hired PwC to prepare its internal systems. The move comes as Tether plans a U.S. expansion and seeks to raise $15–20 billion amid investor concerns over pricing and regulatory https://t.co/4VG5zN0Bx5
07:02 AM·Mar 27, 2026
manco-xiaoming
@MancoXiaoming
@WuBlockchain from attestations to full audit. Tether finally letting someone check the receipts.
Tether has selected KPMG to conduct a full audit of its approximately $185 billion USDT reserves and hired PwC to prepare its internal systems. The move comes as Tether plans a U.S. expansion and seeks to raise $15–20 billion amid investor concerns over pricing and regulatory https://t.co/4VG5zN0Bx5
06:55 AM·Mar 27, 2026
Cryzen
@zencryptohq_24
@WuBlockchain $185B audit… this is a make-or-break moment 🔥
Tether has selected KPMG to conduct a full audit of its approximately $185 billion USDT reserves and hired PwC to prepare its internal systems. The move comes as Tether plans a U.S. expansion and seeks to raise $15–20 billion amid investor concerns over pricing and regulatory https://t.co/4VG5zN0Bx5
06:19 AM·Mar 27, 2026
Tether, the issuer of USDT, has faced persistent criticism since 2014 over the transparency and full backing of its reserves. For nearly a decade the company repeatedly promised a full independent audit but delivered only limited quarterly attestations from smaller firms such as Friedman LLP (which parted ways in 2018 citing overly detailed procedures) and later BDO Italia.
This led to major regulatory actions, including a $41 million CFTC fine in 2021 for misleading claims about its dollar backing and ongoing skepticism from investors and competitors.In recent years, as USDT grew into the world’s largest stablecoin with a market cap exceeding $180 billion, Tether significantly increased disclosures, shifted the majority of its reserves into U.S. Treasuries, and began preparing for deeper institutional and U.S. market expansion.
Pressure for a true Big Four audit intensified, especially after Tether hired a former KPMG digital-assets specialist as head of internal audit in 2025. The engagement of KPMG now marks the company’s first-ever full financial statement audit.
How Tether’s KPMG audit shifts transparency and institutional credibility
Tether has not yet disclosed the expected completion date of the KPMG audit or whether the final report will be a full audit opinion on its consolidated financial statements or a more limited assurance engagement focused mainly on reserves.
Additionally, it remains unclear how much detail the company will publicly release regarding its corporate structure, profit distribution to shareholders, and the exact breakdown of reserves beyond U.S. Treasuries. Until these gaps are addressed in the published report, some skepticism is likely to persist despite the major transparency upgrade.
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