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 unable to admit their past judgments about Tether were wrong, adding, "honestly, I don't care."

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

He also noted that criticism itself is not necessarily 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 reportedly rely on USDT, especially those in emerging markets.

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