Tether finally gets a full audit by KPMG

[nelson4lov]

Why do people often think that Tether was insolvent? Across all tether fud including the times where it depegged, I didn't flinch because Tether has been the most profitable crypto company for years, even more than Binance. In 2025 alone, they made over $10B in profit and nothing goes to USDT holders/users. Absolutely nothing.

Imo, Tether only commited to the audit so people will continue to trust USDT all the way to $500B/$1T supply. At that point, their revenue will be around $30 to $50B annually and 100% of those profits are owned internally, not shared with their partners or users lol

[Darker45]

I was quite curious about the cost of an audit like that
I don't know if you guys are too
However, that information is confidential

The best I could do was find an estimate by searching online on AIs:
From $15 million to $35 million 

I had no idea it would be that high

Obviously, I don't have any sources

I presumed it must be that expensive.

If we compare Tether's audit with the other top 5 stablecoin issuer, Circle, the estimate is fair and reasonable. Circle had paid $4 million to $6.5 million to Deloitte & Touche LLP for their annual audit.

Considering that Tether has more than double the assets of Circle, and both Deloitte and KPMG belong to the Big Four, $15 million to $35 million must be more or less accurate.

Not to mention that KPMG's audit must be a lot more tedious. Deloitte auditors didn't have to perform vault audits on USDC or Circle, for example. Whereas, the KPMG auditors even had to fly to Switzerland to manually count more than 146 metric tons of gold bar by bar.

[shinratensei_]

It is actually crazy to read this now, it is 2026 and makes a headline that Tether gets audited... Isn't it weird that it took so long for such a critical component of the crypto industry to finally get audited? This should have happened long, long ago. Yet it worked and did not collapse or went rogue. People just blindly trusted it.

Even then the KPMG don't publish full audit report and financial statements which means we can't verify but to trust KPMG. We live in crypto community and "don't trust, but verify" is a thing.

Since Tether seems to be committed on becoming more transparent, it would be greatly appreciated if they could also release full statement and even better if they could improve their quarterly attestation to monthly just like their biggest competitor USDC to improve trust and public opinion.