24 Nov 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 trade. Our dedication to transparency is obvious by means of our previous actions, comparable to Tether dropping opposition to a New York Freedom of Info Regulation (FOIL) request introduced by Coindesk earlier this 12 months. Nonetheless, it’s important to make clear that transparency doesn’t imply a wholesale launch of all our paperwork. This method shouldn’t be according to normal enterprise practices.
Regardless of issues which have arisen concerning the character of the latest NY FOIL request acquired by Tether and Bitfinex, notably in gentle 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 is not going to be additional interesting this FOIL request. Our resolution is rooted in our unwavering dedication to transparency and the idea that now we have nothing to cover.
Zeke Fake’s earlier work on Tether and Bitfinex has typically prolonged past the boundaries {of professional} journalism, and now we have 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 aim is to set the next ethical normal 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 information privateness boundaries. We additionally consider that accountable doc assessment and dealing with is important 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 essentially the most clear corporations of their industries, and we’re dedicated to sustaining this fame. Our resolution to not enchantment this FOIL request reinforces our dedication to each accountable enterprise practices and transparency.
