Tether USDt

Key Points:<ul><li>Tether and Bitfinex withdraw opposition to a FOIL request on a legal settlement with the NY Attorney General.</li><li>Emphasis on transparency without compromising responsible handling of business information.</li><li>Commitment to a higher moral standard, open to constructive engagement with ethical reporters and regulators.</li></ul>In a significant move towards <a href="https://tether.to/en/tether-and-bitfinex-agree-to-drop-opposition-to-foil-request/" rel="noopener noreferrer nofollow">transparency</a>, Tether (USDT) and Bitfinex have decided to abandon their resistance to a New York Freedom of Information Law (FOIL) request initiated by a group of journalists, including Zeke Faux of Bloomberg Businessweek.The FOIL <a href="https://www.cnbc.com/2021/02/23/tether-bitfinex-reach-settlement-with-new-york-attorney-general.html" rel="noopener noreferrer nofollow">request</a> in question pertains to Tether and Bitfinex’s agreement with the New York Attorney General (NYAG), concluding a two-year legal battle over the alleged commingling of $850 million of customer and company funds, resulting in an $18.5 million fine.Highlighting their commitment to openness, Tether cited previous instances, such as dropping opposition to a FOIL request from Coindesk earlier this year, to showcase their dedication to transparency. However, they clarified that transparency should not be misconstrued as an indiscriminate release of all documents, emphasizing the need for responsible business practices.<h2 id="header-0">Opting for Transparency Amid Controversy</h2>Despite facing skepticism about the recent FOIL request, particularly in light of the journalists involved, <a href="https://cryptosnewss.com/tether-freezes-over-800-million-in-illicit-crypto-funds/" rel="noopener noreferrer nofollow">Tether</a> and Bitfinex remain steadfast in their decision to prioritize transparency over further opposition. Notably, concerns arose regarding the conduct of journalists like Zeke Faux, Shane Shifflett, and Ada Hui, who have been associated with media outlets like the Wall Street Journal and Bloomberg, both participants in the FOIL request.The companies addressed what they deemed as “one-sided and inaccurate” reporting from various media outlets, expressing their commitment to setting a moral standard and leading by example. Tether and Bitfinex asserted that their dedication to transparency does not compromise their responsible handling of business information._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/tether-and-bitfinex-embrace-transparency-drop-opposition-to-foil-request/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on November 25, 2023.

Tether and Bitfinex Embrace Transparency: Drop Opposition to FOIL Request

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