24 Nov Tether and Bitfinex Conform to Drop Opposition to FOIL Request
Tether and Bitfinex place a excessive worth on transparency, a core precept throughout the cryptocurrency trade. Our dedication to transparency is obvious by way of our previous actions, reminiscent of Tether dropping opposition to a New York Freedom of Data Legislation (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 strategy shouldn’t be in step with customary enterprise practices.
Regardless of considerations which have arisen relating to the character of the newest NY FOIL request acquired by Tether and Bitfinex, notably 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 choice is rooted in our unwavering dedication to transparency and the idea 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 numerous media shops, together with the Wall Road Journal and Bloomberg, whose journalists are taking part inthis FOIL request. Our objective is to set a better ethical customary and lead by instance.
Our dedication to transparency by no means compromises our dedication to dealing with enterprise info 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 imagine that accountable doc evaluation 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 probably the most clear corporations of their industries, and we’re dedicated to sustaining this status. Our choice to not attraction this FOIL request reinforces our dedication to each accountable enterprise practices and transparency.
