Tether finally got the audit critics demanded, just as Washington changed the test

Tether says KPMG issued an unqualified opinion on Tether International's 2025 financial statements, its first full audit from a Big Four accounting firm. The audited numbers show reserves exceeding liabilities by $6.814 billion as of Dec. 31, 2025. Quarterly reserve attestations confirm a snapshot of assets against liabilities. A full financial-statement audit examines the balance [ ]