Tether, Bitfinex agree to drop opposition to FOIL request
Tether and Bitfinex say the decision not to appeal the Freedom of Information Law request by several media outlets was made in the interests of transparency. Tether and Bitfinex have jointly agreed to drop initial opposition to a Freedom of Information Law (FOIL) request lodged in New York by a number of high-profile news publications. A statement from the USDT stablecoin issuer and cryptocurrency exchange shared with Cointelegraph notes that it is committed to transparently sharing information following a FOIL request from CoinDesk earlier this year. The companies also indicated that they would not be openly releasing documentation, claiming that the approach is not in line with its business practices: “It’s essential to clarify that transparency does not mean a wholesale release of all our documents.” Tether and Bitfinex will not appeal against the FOIL request put forward by journalists, including Zeke Faux, Shane Shifflett and Ada Hui, whom they accuse of exhibiting “certain beh...