Tether Hires KPMG For First Full Audit Of USDT Reserves, PwC To Ready Internal Systems

Tether has hired KPMG to conduct its first full audit of USDT reserves.

“Tether hires KPMG for USDT audit, brings in PwC as it gears up for U”

@coindesk

PwC is helping prepare internal systems ahead of the audit.

@coindesk

The company is pursuing a U.S. expansion and potential fundraising in the order of $15–20 billion.

This move unfolds within a regulatory frame shaped by the GENIUS Act framework that governs U.S. stablecoins.

The audit scope is described as comprehensive, expanding beyond attestations to review assets, liabilities, internal controls, and reporting systems.

The audit will examine the makeup of reserves such as U.S. Treasuries, gold, crypto holdings, and loans.

Blockonomi

Some analyses emphasize a tripartite reserve structure that can include tokenized government bonds.

Auditors will examine both issued USDT and the underlying assets.

The GENIUS Act, in particular, imposes new requirements on large stablecoin issuers, including monthly reserve attestations and annual independent audits.

“Tether, the company behind the USDT stablecoin, said Tuesday it has hired a Big Four accounting firm to carry out its first full financial statement audit”

CoinCentral

MoneyCheck notes that Tether plans a U.S. expansion and seeks to raise between $15–20 billion amid investor concerns.

CoinGape highlights a regulatory context including the GENIUS Act and CLARITY Act discussions shaping stablecoin reporting.

The Financial Times’ reporting on the audit is positioned within this regulatory backdrop, signaling alignment with U.S. market expectations.

Past scrutiny includes the 2021 CFTC penalty for misrepresenting reserve backing.

Critics have long questioned the liquidity and composition of reserves, including exposure to non‑cash instruments.

CoinCentral

Some observers frame this as a normalization process for stablecoins in mainstream finance, while others warn that the structural risk remains contingent on reserve quality.

The Defiant notes that no completion timeline was disclosed for the audit.

“Tether hires a 'Big Four' firm for a full audit of USDT reserves The audit aims to address long-standing questions over USDT reserves and push new disclosure standards”

CoinDesk

The audit is described as potentially the largest inaugural audit in financial markets, signaling a learning curve for the sector.

CoinDesk

Observers expect that the engagement could raise the bar for other issuers and set a benchmark for transparency.