Tether Launches First Full USDT Audit

USDT, issued by Tether and pegged one-to-one to the U.S. dollar, had about $184 billion in circulation at the time of the event. It was the world’s largest stablecoin and a major source of liquidity for cryptocurrency trading and cross-border settlement. Since 2022, Tether has provided only quarterly reserve attestations from BDO Italia and has never completed a full audit of its financial statements, fueling longstanding market concerns about whether its reserves are sufficient and how it manages risk.

Tether announced on March 24, 2026, that it had formally appointed a Big Four accounting firm. The Financial Times reported on March 27 that KPMG would lead the audit, while Tether also hired PwC to help prepare its internal controls, systems and financial-reporting processes. The audit will cover assets, liabilities and USDT reserves, but no completion or report-delivery date has been announced.