When pressed for details on the financial statements, Tether's CEO gave a one-line response: "Honestly, I don't care." The remark came right after the company completed its first KPMG audit, notably lacking the usual PR polish companies employ when discussing audit results — instead delivering a near-impatient bluntness.
According to The Block, a source familiar with the matter said Tether has no plans to publicly release its audited financial statements, for a simple reason: it's a private company under no obligation to disclose. This explains why questions about the transparency of Tether's reserves have gone unanswered for years — not because full disclosure is technically impossible, but because the company itself doesn't see the need.
What's worth noting is that "completing the audit" and "not disclosing the results" hold true at the same time. The KPMG audit represents some degree of external scrutiny having taken place, but the report's content, scope, and conclusions remain undisclosed. The CEO's "I don't care" essentially throws the ball back to the market: you're free to question it, but the company isn't changing its disclosure approach just because outsiders are skeptical.
The Block has not yet obtained the specifics of the KPMG audit report, including its scope, the period covered, or its conclusions. At this point, all that can be confirmed is that the audit has been completed and that Tether has chosen not to make it public.
