DECRYPT · 2026-11-12 15:55 UTC

Tether Gold Gets Clean KPMG Audit Confirming $2.2B in Physical Gold Backing

KPMG issued an unqualified (clean) audit opinion on TG Commodities, the issuer of Tether Gold (XAUT), for the year ended December 31, 2025. At end-2025, TG Commodities held 520,089.350 troy ounces of allocated gold worth $2.246 billion against 520,089.300 XAUT tokens in issue, with the gold held in Swiss vaults. KPMG physically counted and inspected every gold bar backing the token, rather than relying only on custodian confirmations, and it is Tether's second Big Four audit after KPMG's August opinion on USDT's issuer.

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