Stablecoin attestation reports are formal documents issued by independent CPA firms that verify whether a stablecoin issuer holds sufficient reserves to back its circulating tokens. Unlike audits, attestations provide a snapshot of reserves at a specific point in time. Confidence in stablecoins, such as USDC and Tether USDt, relies on these reports for ensuring institutional credibility and investor trust. Transparency is crucial; companies publish attestations to comply with regulations, safeguard investor interests, and promote market integrity. The AICPA’s 2025 criteria enhance standardization in reporting by establishing clear guidelines for stablecoin disclosures, focusing on redeemable tokens, reserves availability, and associated risks. Reading these reports involves reviewing report dates, comparing circulating supply with reserves, understanding asset backing, and assessing the methodology used. Recent data indicates that Circle's USDC is transparently backed by liquid assets like US Treasurys, with reserves exceeding the USDC in circulation. However, the limitations of attestation reports include their point-in-time nature and lack of forward-looking assurances, stressing the importance of supplemental due diligence for investors.

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