Saturday, June 22, 2024

Tether and Bitfinex Comply with Drop Opposition to FOIL Request

Tether and Bitfinex Comply with 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 obvious by means of our previous actions, equivalent to Tether dropping opposition to a New York Freedom of Data Regulation (FOIL) request introduced by Coindesk earlier this yr. Nonetheless, it’s important to make clear that transparency doesn’t imply a wholesale launch of all our paperwork. This strategy shouldn’t be according to customary enterprise practices.

Regardless of issues which have arisen relating to the character of the latest NY FOIL request obtained by Tether and Bitfinex, significantly in mild of sure behaviors exhibited by the journalists making that request, together with Zeke Fake, Shane Shifflett, and Ada Hui, we wish to make it clear that Tether and Bitfinex won’t be additional interesting this FOIL request. Our resolution is rooted in our unwavering dedication to transparency and the assumption that we have now nothing to cover.

Zeke Fake’s earlier work on Tether and Bitfinex has generally prolonged past the boundaries {of professional} journalism, and we have now additionally noticed one-sided and inaccurate reporting from varied media shops, together with the Wall Road Journal and Bloomberg, whose journalists are collaborating inthis FOIL request. Our purpose is to set the next ethical customary 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 fame. Our resolution to not attraction this FOIL request reinforces our dedication to each accountable enterprise practices and transparency.

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