BlockBeats News, August 14th, Tether, the issuer of USDT, announced that it has completed a full independent audit of its 2025 fiscal year financial statements by Moore Cayman, receiving an unqualified audit opinion, the most favorable opinion an auditing firm can issue. This audit is referred to as the "largest ever first-time financial audit," where Moore Cayman extensively and substantively tested Tether's balance sheet, reserve asset composition, issued token liabilities, income statement, equity changes, and cash flow statement. They also physically verified the existence and ownership details of each gold bar held by Tether, rather than relying solely on custodian reports.

The audit confirmed that as of December 31, 2025, Tether's reserves exceeded liabilities by $6.814 billion. CEO Paolo Ardoino stated, "Critics have claimed for years that Tether's audit could not be completed, and once again, we have proven them wrong. An unqualified opinion means Tether has received a clean audit." Tether CFO Simon McWilliams called this a "milestone in Tether's transparency commitment," noting that the company has completed a historic project working with a Big Four accounting firm and will continue to raise the standards in the future.

Over the years, Tether has consistently published reserve independent attestation reports. This financial statement audit marks a transition of its financial reporting system from attestation level to full audit level.