Tether CEO responds to skepticism following KPMG's first full audit: "We have proven ourselves multiple times"

Odaily News Tether CEO Paolo Ardoino, in an interview with The Block, responded to ongoing criticism from outsiders even after KPMG U.S. completed its first full financial audit. He stated that some critics are unwilling to admit their past misjudgments about Tether, adding, "Honestly, I don't care."

Ardoino noted that Tether has repeatedly demonstrated its resilience. He mentioned that in 2022, Tether processed $7 billion in redemptions within 48 hours—equivalent to roughly 10% of its reserves at the time—without pausing redemptions. He argued that many traditional financial institutions would struggle to handle withdrawals of a similar scale in such a short timeframe.

He also said criticism itself is not a bad thing, as it makes Tether better and stronger. Even if some critics view the company as a "villain," he does not mind as long as Tether can continue serving the 650 million users who rely on USDT, particularly those in emerging markets.

According to sources familiar with the matter, Tether, as a private company, does not publicly share audited financial statements. The company plans to conduct one full audit per year going forward while continuing to publish quarterly attestation reports. Overall, the KPMG audit marks a significant step forward for Tether in enhancing transparency, but controversies surrounding its reserves, level of disclosure, and systemic impact have not fully subsided. (The Block)