Tether CEO Responds to Skepticism Following KPMG's First Full Audit: "We've 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 of the company. He stated that some critics are unable 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 during that period. He argued that many traditional financial institutions would struggle to handle withdrawals of a similar scale in such a short timeframe.

He also said that criticism itself is not necessarily a bad thing, as it pushes Tether to become 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 sources familiar with the matter, Tether, as a private company, does not publicly share audited financial statements. The company plans to conduct a full audit annually moving forward, while continuing to publish quarterly attestation reports. Overall, the KPMG audit represents a significant step toward greater transparency for Tether, but controversies surrounding its reserves, level of disclosure, and systemic impact have not fully subsided. (The Block)