Update
Tether Gold Completes Big Four Audit
Tether Gold (XAU₮), Tether's second stablecoin, has completed an independent audit by KPMG U.S. for the year ended December 31, 2025. The audit confirms that XAU₮ is fully backed by allocated physical gold, with 520,089.350 fine troy ounces of gold valued at $2.246 billion. KPMG physically counted and inspected every individual gold bar, verifying their existence and identifying information. The gold is held in vaults in Switzerland and meets London Good Delivery standards, owned by XAU₮ token holders who each hold an undivided interest in specified gold bars. In addition to the audit, management engages a qualified independent third party to test a sample of the bars every quarter.