- Tether appoints KPMG for the first full audit of $185B USDT reserves, replacing prior BDO Italia attestations.
- Tether hires PwC to prepare internal systems and controls ahead of a full financial audit process.
- Tether cuts its fundraising target to $5B from earlier $15–20B while planning US expansion.
Tether has taken a major step by appointing KPMG to audit its $185 billion USDT reserves. The move comes as the company prepares for expansion in the United States and aims to strengthen transparency around its financial position.
Tether Appoints KPMG For Full Financial Audit
Tether has selected KPMG to conduct its first full financial statement audit. The audit will cover its $185 billion USDT reserves. This marks a shift from its earlier reporting practices.
The company had relied on monthly attestations from BDO Italia. These reports confirmed reserve backing at specific points in time. However, they did not provide a full review of financial systems and controls.
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… pic.twitter.com/4VG5zN0Bx5
— Wu Blockchain (@WuBlockchain) March 27, 2026
KPMG will now review assets, liabilities, and internal systems. The audit will also examine reporting processes and financial disclosures. This step places Tether under deeper external review.
Tether CEO Paolo Ardoino said, “Trust is built when institutions are willing to open themselves fully to scrutiny.” He added that the audit reflects years of internal preparation.
PwC Engaged To Prepare Internal Systems
Tether has also hired PwC to support audit readiness. The firm will help prepare internal systems before the KPMG review begins. This includes reviewing controls and reporting structures.
🔥 @Tether hired @KPMG to conduct an audit of its USDT reserves#Tether has appointed #KPMG to perform a full audit of its USDT reserves, marking a significant shift from the quarterly attestations it has relied on for years. The audit will cover Tether’s financial statements… pic.twitter.com/nonY1t9nzE
— PHOENIX – Crypto News & Analytics (@pnxgrp) March 27, 2026
PwC’s role is focused on improving processes within the company. These updates aim to align Tether with global financial standards. The preparation is expected to support a smoother audit process.
The involvement of two Big Four firms shows a structured approach. Tether is working to ensure its systems meet strict requirements. This step comes as the company faces increased attention from regulators and investors.
The company confirmed earlier that it had engaged a Big Four firm. Reports later identified KPMG as the selected auditor. The addition of PwC adds further support to the process.
Audit Comes Amid US Expansion Plans
The audit effort is linked to Tether’s plans to expand in the United States. The company is seeking to strengthen its presence in regulated markets. Greater transparency may support these efforts.
Tether has also explored raising capital to support its growth. Earlier discussions mentioned a target between $15 billion and $20 billion. Recent updates suggest a lower figure of about $5 billion.
The revised fundraising target comes after investor concerns. These concerns include pricing and regulatory risks tied to stablecoins. The company is adjusting its strategy in response.
Transition From Attestations To Full Audit Review
Tether reported about $10 billion in profit last year according to its latest annual attestation from independent accounting firm BDO. This financial performance supports its expansion plans. The audit may help build confidence among potential investors.
Tether’s earlier reports were based on monthly attestations from BDO Italia. These confirmed that reserves matched issued tokens at specific times. They did not assess full financial operations.
The upcoming audit will include a broader review of financial statements. It will also assess internal controls and reporting systems in detail. This provides a deeper level of verification.
Moreover, the process is expected to bring more clarity to reserve management. It will also show how assets and liabilities are structured. This approach follows standards used in global finance.
The shift reflects Tether’s effort to meet higher reporting expectations. The company is aligning its practices with established financial review methods.
