A leading stablecoin company, Tether, and Bitfinex emphasize transparency in the crypto industry, as demonstrated by their decision to drop opposition to a New York FOIL request from Coindesk earlier this year.
However, they clarify, “It’s essential to clarify that transparency does not mean a wholesale release of all our documents.” Despite concerns surrounding the recent FOIL request, Tether, and Bitfinex won’t appeal it, emphasizing their commitment to transparency and the belief that they have nothing to hide.
They note journalist behaviors, like Zeke Faux, and express a desire to set a higher moral standard. The decision not to appeal aims to uphold responsible business practices and transparency, without compromising data privacy.
Tether and Bitfinex welcome constructive engagement with journalists and regulators adhering to ethical standards. They stress that transparency doesn’t mean unrestricted public disclosure, underscoring their commitment to responsible document handling.
Tether and Bitfinex’s decision not to appeal the FOIL request reflects a commitment to transparency while maintaining responsible business practices, setting a higher moral standard in the crypto industry.
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