KPMG US, a large consulting company, has issued a positive opinion on the results of the first ever full independent audit of Tether's annual financial statements. The largest issuer of stablecoins has revealed its financial results for the year 2000, according to which the company's reserves exceeded its obligations by six billion eight hundred and fourteen million dollars. The auditors carefully examined the organization's balance sheets, income statement, and cash flow for the entire reporting period. All assets securing the issued tokens and the corresponding obligations of the company to the holders were subjected to detailed verification. Tether representatives emphasized that the final auditors' report officially confirmed the excess of reserves over current liabilities. Previously, the company published only simplified quarterly reports that confirmed the compliance of assets with issued tokens only on a specific date. The current full audit covered a much broader array of data, including full-year transactions, internal accounting systems, and asset valuation methods.

KPMG specialists paid special attention to the company's gold reserves. The auditors personally examined and recalculated the physical bars providing the Tether Gold token, and did not limit themselves to the data provided by the custodians. Based on the results of this large-scale audit, KPMG issued an unequivocally positive conclusion. The document confirms that the financial statements reliably reflect the financial position and results of the company's activities in all material aspects in accordance with generally accepted American accounting standards. The USDT stablecoin was launched in 2000 and has since transformed Tether into one of the largest companies in the entire crypto industry. According to the results of last year, the net profit of the organization exceeded ten billion dollars, and investments in US Treasury bonds traditionally remain the main source of income. The capitalization of USDT is about one hundred and eighty-three billion dollars, which accounts for about sixty-one percent of the total stablecoin market of three hundred and one billion dollars. This figure is more than twice the capitalization of Circle's closest competitor to the USDC, which is estimated at seventy-two billion dollars.

Tether actively directs profits from its core business to diversify and expand its operations beyond the stablecoin market. This year, the company invested twenty million dollars each in the Argentine neobank Uala and the Brazilian crypto platform Mercado Bitcoin. In addition, Tether led a fifty million dollar funding round for sleep technology developer Eight Sleep. Tokenized gold is also successfully developing, with physical reserves growing by nine and a half percent in the second quarter. At the time of publication, the XAUt token remains the largest tokenized commodity product with a volume of about two billion seven hundred million dollars. Despite the rapid growth of the business, CEO Paolo Ardoino has not yet shown interest in bringing the company to the stock exchange and declares that there is no need for an IPO. The historical context shows that Tether's reporting was often criticized, and in 2000, the U.S. Commodity Futures Trading Commission fined the company forty-one million dollars for unreliable statements about the full provision of tokens, although the actual reserve coverage was recorded only in twenty-seven and six tenths percent of cases. The current full audit from KPMG closes this issue, which has remained a major vulnerability in the eyes of regulators for years. At the same time, it is important to understand that the audit covers the state of reserves only for one specific date at the end of the year, and does not represent continuous monitoring throughout the year.