KPMG clears Tether Gold’s 2025 accounts with an unqualified opinion
KPMG audited Tether Gold’s gold reserves and issued an unqualified opinion on TG Commodities’ 2025 financial statements.
KPMG audited Tether Gold’s gold reserves and issued an unqualified opinion on TG Commodities’ 2025 financial statements. Tether (USDT) is trading at ₹93.78 ($0.9992). This is an original Token Times brief synthesising 2 outlets (Crypto Economy, Decrypt), plus live market data, as of Thu, 12 Nov 2026 17:45:01 UTC.
The audit provides independent assurance around the gold backing a token with a $3.13 billion market capitalization, while a bar-level reserve check connects the financial statements to assets held in Switzerland.
- KPMG issued an unqualified opinion on TG Commodities’ 2025 accounts
- Audited gold holdings closely matched the 520,089.300 XAUT tokens in issue
- XAUT trades at $3,868.91, down 3.00% over 24 hours
- Crypto Economy reports the gold is stored in Switzerland under London Good Delivery standards
Crypto Economy, Crypto.news, The Cryptonomist and Decrypt agree that KPMG U.S. issued an unqualified opinion on TG Commodities, S.A.’s 2025 financial statements, covering the company associated with Tether Gold. Crypto Economy and Decrypt emphasize that KPMG counted and inspected the gold backing XAUT, with Crypto Economy reporting 520,089.350 fine troy ounces against 520,089.300 tokens in issue. Crypto.news frames the result as XAUT’s first Big Four financial audit and notes it came more than five years after the token’s launch, while Decrypt emphasizes that this makes XAUT Tether’s second stablecoin to complete such an audit after USDT. The sources do not contradict one another; their main difference is emphasis, with Crypto Economy providing the quantified reserve comparison and storage location, Crypto.news highlighting timing, and Decrypt highlighting KPMG’s bar-level examination.
KPMG U.S. issued an unqualified opinion on the 2025 financial statements of TG Commodities, S.A., according to Crypto Economy, Crypto.news, The Cryptonomist and Decrypt. The audited company is associated with 
Tether Gold, or XAUT, making the result a significant validation of the financial reporting behind a gold-backed stablecoin with a current market capitalization of $3.13 billion.
Crypto.news described the review as XAUT’s first Big Four financial audit and reported that it came more than five years after the token launched. Decrypt presented the development from a broader 
Tether perspective, saying the opinion makes XAU₮ Tether’s second stablecoin to complete a full audit by a Big Four accounting firm after USDT. Those descriptions address different aspects of the same outcome rather than conflicting accounts of what KPMG did.
Crypto Economy reported that KPMG counted and inspected every gold bar backing XAU₮. Its reserve comparison found 520,089.350 fine troy ounces of gold against 520,089.300 tokens in issue, a difference of just 0.05 fine troy ounce. The outlet also reported Tether’s statement that the gold is stored in Switzerland under London Good Delivery standards, providing a location and custody framework alongside the reserve figures.
Decrypt independently highlighted the scope of KPMG’s work by reporting that the firm counted every gold bar behind XAUT. Crypto Economy supplied the most granular quantities, while The Cryptonomist and Crypto.news focused on the unqualified opinion covering TG Commodities’ 2025 statements. No outlet cited in the coverage reported a qualified finding or identified a contradiction in the figures.
Live market data show Tether Gold trading at $3,868.91, down 3.00% over 24 hours and 4.73% over seven days. Its $3.13 billion market capitalization sits against broader weakness in crypto: the total market capitalization is $2.46 trillion, 
Bitcoin is down 3.45% over 24 hours, and the Fear & Greed index stands at 28, indicating a Fear reading. Tether itself is comparatively stable at $0.999206, with no 24-hour change and a seven-day decline of 0.02%.
The audited figures make the reserve check unusually concrete: the reported fine troy ounces exceed the stated token issuance by only 0.05 ounce. That close alignment is the principal quantitative benchmark carried into future disclosures, while future audits and changes in reported holdings would determine whether the same level of backing remains visible. USDT’s circulating supply was separately verified at $175.65 billion by DeFiLlama, compared with a live USDT market capitalization of $175.74 billion.
Since this brief published about 51 minutes ago, Tether (USDT) has moved from ₹93.78$0.9992 to ₹93.78$0.9992 — -0.00%.
The chart plots USDT's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution; intraday detail builds over the first day). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 USDT ≈ ₹99.48 (about $0.9992), down 0.0% over 24 hours. The rupee itself trades about 6.1% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 12, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
KPMG clears Tether Gold’s 2025 accounts with an unqualified — questions & answers
What did KPMG conclude in the Tether Gold audit?
KPMG U.S. issued an unqualified opinion on TG Commodities, S.A.’s 2025 financial statements, according to all four outlets covering the audit.
How much gold backs the issued Tether Gold tokens?
Crypto Economy reported holdings of 520,089.350 fine troy ounces against 520,089.300 XAUT tokens in issue, a gap of 0.05 fine troy ounce.
Where is Tether Gold’s backing stored?
Crypto Economy reported Tether’s statement that the gold is held in Switzerland under London Good Delivery standards.
How much is 1 Tether worth in rupee today?
About ₹99.48 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $0.9992. The rupee price moves with both USDT's US-dollar price and the USDT/INR rate; use our Tether in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Crypto Economy, Decrypt, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.