CryptoNews: Tether drops freedom of information opposition, allowing CoinDesk access to its reserve data, as $USDT imbalance in Curve's 3pool causes depeg concerns. 👀
Tether previously reported to the New York Attorney General’s Office as part of its settlement obligations in 2021.
CoinDesk later filed, under New York’s Freedom of Information Law , disclosure of Tether’s quarterly reports. On June 15, Tether dropped the legal fight to keep that information private, allowing CoinDesk to receive the documents from the NYAG. The company emphasized its “continued commitment to transparency” and added that the “information is now much less relevant.” The reports released are up to the middle of 2021.
Tether also highlighted that it has cut commercial paper reserves to zero and reduced its secured loans portfolio since the original reports.Although CoinDesk has not reported on the reserve data yet, Tether has called the timing of the depeg suspicious. Tether's CTO Paolo Ardoino took to Twitter to address the situation, calling it an attack on Tether, and that they are prepared to "redeem any amount.
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