24 Nov Tether and Bitfinex Conform to Drop Opposition to FOIL Request

Tether and Bitfinex place a excessive worth on transparency, a core precept inside the cryptocurrency business. Our dedication to transparency is clear via our previous actions, equivalent to Tether dropping opposition to a New York Freedom of Info Legislation (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 isn’t according to commonplace enterprise practices.

Regardless of issues which have arisen concerning the character of the latest 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 need 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 idea that we now have nothing to cover.

Zeke Fake’s earlier work on Tether and Bitfinex has typically prolonged past the boundaries {of professional} journalism, and we now have additionally noticed one-sided and inaccurate reporting from numerous media retailers, together with the Wall Avenue Journal and Bloomberg, whose journalists are collaborating inthis FOIL request. Our objective is to set the next ethical commonplace 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 imagine 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 probably the most clear firms 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.