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Tether and Bitfinex Comply with Drop Opposition to FOIL Request

Tether and Bitfinex Comply with Drop Opposition to FOIL Request

Tether and Bitfinex place a excessive worth on transparency, a core precept inside the cryptocurrency trade. Our dedication to transparency is obvious by our previous actions, corresponding to Tether dropping opposition to a New York Freedom of Info Regulation (FOIL) request introduced by Coindesk earlier this 12 months. Nonetheless, it’s important to make clear that transparency doesn’t imply a wholesale launch of all our paperwork. This method just isn’t according to customary enterprise practices.

Regardless of issues which have arisen relating to the character of the newest NY FOIL request acquired by Tether and Bitfinex, notably in gentle of sure behaviors exhibited by the journalists making that request, together with Zeke Fake, Shane Shifflett, and Ada Hui, we wish to make it clear that Tether and Bitfinex won’t be additional interesting this FOIL request. Our determination is rooted in our unwavering dedication to transparency and the assumption that now we have nothing to cover.

Zeke Fake’s earlier work on Tether and Bitfinex has typically prolonged past the boundaries {of professional} journalism, and now we have additionally noticed one-sided and inaccurate reporting from numerous media shops, together with the Wall Road Journal and Bloomberg, whose journalists are collaborating inthis FOIL request. Our purpose is to set a better ethical customary and lead by instance.

Our dedication to transparency by no means compromises our dedication to dealing with enterprise data responsibly. We stay open to constructive engagement with journalists and regulatory authorities who adhere to moral reporting requirements and respect knowledge privateness boundaries. We additionally consider that accountable doc evaluate and dealing with is crucial earlier than any public launch, and we stress that transparency doesn’t equate to unrestricted public disclosure of all paperwork.

Each Bitfinex and Tether stand as essentially the most clear corporations of their industries, and we’re dedicated to sustaining this status. Our determination to not enchantment this FOIL request reinforces our dedication to each accountable enterprise practices and transparency.

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