Tether and Bitfinex Withdraw Opposition to FOIL Request
Tether (USDT) and Bitfinex have announced that they will no longer oppose a Freedom of Information Law (FOIL) request filed by a group of journalists, including Zeke Faux from Bloomberg Businessweek. The request is related to the companies’ settlement with the New York Attorney General (NYAG), in which they agreed to pay an $18.5 million fine over allegations of mixing customer and company funds.
Tether and Bitfinex Choose Transparency
Despite concerns about the behavior of the journalists involved, Tether and Bitfinex have decided not to appeal the FOIL request. They have expressed their commitment to transparency and their intention to set a higher moral standard in the industry. The companies have also criticized what they consider “one-sided and inaccurate” reporting from media outlets participating in the FOIL request.
Selective Document Disclosure
Tether and Bitfinex emphasize the importance of responsible document review before public disclosure. They clarify that transparency does not mean releasing all documents indiscriminately. The companies maintain that they are committed to being transparent while handling business information responsibly. They welcome constructive engagement with journalists and regulatory authorities who adhere to ethical reporting standards and respect data privacy boundaries.
Hot Take: Tether and Bitfinex Prioritize Transparency Amidst Controversy
Tether and Bitfinex’s decision to withdraw opposition to the FOIL request demonstrates their dedication to transparency in light of recent controversies. While facing criticism from certain journalists, the companies aim to lead by example and uphold their reputation as the most transparent in their industries. They emphasize responsible document handling and encourage ethical reporting practices. By choosing transparency over opposition, Tether and Bitfinex set a higher moral standard within the crypto industry.
By
By
By
By
By