Tether and Bitfinex Drop Opposition to FOIL Request, Commit to More Transparency
• Tether and Bitfinex agree to drop opposition to FOIL request from journalists including Zeke Faux, author of book critical of Tether • Firms say it shows their commitment to transparency, but won't release all documents as that's not standard business practice • Similar previous announcement after losing court cases trying to block prior FOIL request from CoinDesk about reserves backing Tether's USDT stablecoin • Won't appeal new FOIL case but remain open to engagement with ethical journalists and regulators • Tether's USDT is world's largest stablecoin at $88.5B, enables movement of money globally, noted in book for use in illicit activities