In a recent announcement, Tether (USDT) and its sister company Bitfinex have declared their decision to withdraw opposition to a New York Freedom of Information Law (FOIL) request filed by a group of journalists, including Zeke Faux from Bloomberg Businessweek.
The FOIL request relates to Tether and Bitfinex’s agreement with the New York Attorney General (NYAG) to pay a $18.5 million fine to settle a two-year lawsuit over the alleged mixing of $850 million of customer and company money.
The company behind the largest stablecoin by trading volume stated that Tether had demonstrated its dedication to transparency through past actions, such as dropping opposition to a FOIL request made by Coindesk earlier this year.
However, the company stated that it is essential to clarify that “transparency does not imply an indiscriminate release of all documents,” as this approach would not align with standard business practices.
Tether And Bitfinex Choose Transparency Over Opposition
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