Office of the New York Attorney General Provides Tether-Related Documents in Response to CoinDesk

NY Attorney General Office provides Tether documents to CoinDesk

The New York Attorney General’s Office has provided CoinDesk with Tether-related documents in response to Tether’s decision to drop its opposition to CoinDesk. Previously in 2021, CoinDesk had publicly disclosed Tether’s first quarterly report related material under New York’s Freedom of Information Law. Tether stated that the documents disclosed showed that our reserves were fully present, but these materials are outdated and do not accurately reflect Tether’s current reserve status, nor do they take into account the transformation of the Tether ecosystem. Among other actions, Tether will reduce its commercial paper holdings to zero in mid-2022 and significantly reduce its secured loan portfolio, with the goal of bringing it down to zero in the coming months. Tether also stated that while CoinDesk may still review the information provided, Tether is monitoring the USDT market and looking for further signs of manipulation aimed at spreading panic. Additionally, Tether urged CoinDesk not to publicly share any past and present client names.

Reference: https://tether.to/en/tether-on-FOIL-and-continued-commitment-to-transBlockingrency/

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