Tether and Bitfinex withdraw opposition to FOIL request
Tether and Bitfinex have chosen not to challenge the Freedom of Information Law (FOIL) request initiated by journalists, including Zeke Faux, Shane Shifflett and Ada Hui, whom they accuse of displaying “certain behaviors.” The companies allege that Faux’s prior reports on Tether and Bitfinex exceeded the boundaries of professional journalism. FOIL request in action In the Nov. 24 announcement, the two firms claim that media outlets, such as The Wall Street Journal and Bloomberg, have journalists involved in the ongoing FOIL request , have presented “one-sided and inaccurate” information. Tether and Bitfinex share that, in contrast their goal is to set a higher moral standard and “lead by example.” The current FOIL request is linked to the agreement between Tether, Bitfinex and the New York Attorney General (NYAG) in February 2021. Initially reported by CNBC, the agreement included a payment of an $18.5 million fine t...