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 cannot admit their past judgments about Tether were wrong, adding, "Honestly, I don't care."

Ardoino said that Tether has proven its resilience multiple times. 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 believes many traditional financial institutions would struggle to handle withdrawals of a similar scale in such a short period.

He also stated that 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, especially those in emerging markets.

According to informed sources, Tether, as a private company, does not publicly share 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 is an important step for Tether in enhancing transparency, but controversies surrounding its reserves, level of disclosure, and systemic impact have not fully subsided. (The Block)