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Tether and Bitfinex Agreed to Withdraw Objections! New York-based Tether and Bitfinex have decided to withdraw their objections to the Freedom of Information Law (FOIL) requests. By giving up a specific opposition, the two companies are prepared to demonstrate their commitment to transparency. However, stating that they will not fully disclose the documents, they underline that transparency does not mean sharing all documents en masse.
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At the same time, the companies will also withdraw their opposition to the alleged journalists they objected to the FOIL requests. Among the journalists are Zeke Faux, Shane Shifflett, and Ada Hui. The companies claim that the news these journalists have done in the past exceeded the boundaries of professional journalism and they find the reports of media organizations one-sided and wrong.
In the announcement, it is emphasized that both companies are committed to transparency and ethical reporting standards, and they are open to interactions with regulatory authorities and journalists.
Tether and Bitfinex, noting that their efforts to be transparent do not mean “unlimited disclosure of all documents,” call for a “responsible document review” before any information is disclosed to the public.
This development came after Tether’s obligation to provide quarterly transparency reports as part of its agreement with the New York Attorney General last year ended.
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In June 2023, Tether drew attention by opposing the FOIL request to prevent the disclosure of “confidential customer data” and to prevent “sensitive business information” from being used by malicious parties.