Tether And Bitfinex Drop Resistance To FOIL Request, Prioritize Transparency
Tether and Bitfinex have decided to stop resisting a New York Freedom of Information Law (FOIL) request submitted by several journalists, including Zeke Faux from Bloomberg Businessweek. This request is related to the companies' settlement with the New York Attorney General involving an $18.5 million fine over allegations of misusing $850 million of customer and company funds. Tether and Bitfinex, however, clarified that transparency does not mean an "indiscriminate release of all documents". They aim to set a higher moral standard by committing themselves to transparency and responsible handling of business information. They also expressed willingness to engage with journalists and regulators who follow ethical reporting standards and respect data privacy.
