Tether said KPMG U.S. completed its first full independent audit of Tether International's 2025 financial statements, issuing an unqualified opinion and confirming that reserves backing USDT exceeded liabilities by about $6.8 billion at year-end. CEO Paolo Ardoino said the company has more than 650 million users worldwide and is broadening beyond stablecoins into technology and infrastructure for developing economies, including the QVAC on-device AI platform for health, finance and sports. In a later update, Tether also reported $1.5 billion in Q2 2026 net operating profit, saying profits from reserve assets, largely U.S. Treasury exposure, help fund the expansion.