In a notable shift toward transparency, cryptocurrency giants Tether and Bitfinex have withdrawn their opposition to the Freedom of Information Law (FOIL) request. This decision, pivoting from their previous stance, potentially marks a new chapter in the cryptocurrency regulatory narrative.
FOIL Uncovers Tether’s Extensive Banking Relationships
Central to this development, the FOIL request sought to illuminate the banking relationships and reserve structures underpinning Tether’s USDT token, the largest stablecoin by market capitalization. Despite initial resistance, the New York Supreme Court, led by Justice Laurence Love, dismissed Tether and Bitfinex’s petition to block this inquiry.
Subsequently, documents obtained have laid bare Tether’s financial dealings. The stablecoin issuer’s funds are dispersed across various institutions: four banks, two investment management firms, two gold depositories, a gold broker, and its affiliate, Bitfinex. This revelation is crucial, as i
We współpracy z: https://coingape.com/foil-request-accepted-tether-and-bitfinex-embrace-openness/
