Tether, the world’s largest stablecoin issuer, and cryptocurrency exchange Bitfinex have withdrawn their objections under the Freedom of Information Act (FOIL).
Big names of the cryptocurrency market Tether And Bitfinexagainst the Freedom of Information Act (FOIL) from the objection request gave up. In the past period Wall StreetJournal (WSJ) and Bloomberg news made by media giants, including “biased and misleadingCompanies that stated that they were engaged in a tough struggle against institutions.
While Tether has argued that they have acted in a very transparent manner so far and have fully presented their reporting to both states and the media, this step back does not mean that all company documents will be published he emphasized.
company all despite their wrong and unprofessional attitude between them Zeke Faux, Shane Shifflett And Ada Hui’s He confirmed that he would meet requests for information from journalists, including:
Tether and Bitfinex place great value on transparency, a fundamental principle in the cryptocurrency industry. Our commitment to transparency is evident through our past actions, such as when Tether dropped its opposition to a New York Freedom of Information Act (FOIL) request brought by CoinDesk earlier this year. However, it is important to clarify that transparency does not mean the wholesale publication of all our documents.
WSJ and Bloomberg recently made FUD-themed news about misleading statements in Tether’s reserve reports. In this context, Tether and its sister company Bitfinex are also under suspicion was left.
The media outlets’ FOIL request extends into 2021. In those year’s CNBC Giant media companies, especially Tether 850 million dollars He claimed that he mixed customer and company funds.
Tether to resolve claims and resolve legal disputes $18.5 million fine agreed to pay and during that two-year period every Transparency report every 3 months approved the submission.
With the end of this process CoinDeskfiled a FOIL request seeking public disclosure of materials from the first quarter that Tether submitted under the settlement agreement. The Tether front is June 2023 on to New York court By defending this information critical user data contains and is accompanied by public sharing may cause serious problems he had defended. Accordingly, Tether also objected to the FOIL request.
However, it seems that the company has given up this objection in line with the latest developments and will use the materials in question in the coming period.in a limited context” is preparing to present publicly.