Tether Calls Out CoinDesk Not To Disclose Any Information Amidst USDT Attack

CoinDesk sought public disclosure of materials relating to the first of Tether’s quarterly reports under New York’s Freedom of Information Law. This morning, the New York Attorney General’s Office provided responsive documents to CoinDesk, which Tether has called on CoinDesk not to disclose information about its past and current customers. Tether initiated proceedings to prevent the public dissemination of confidential customer data and to prevent the use of sensitive commercial information that malicious actors could potentially exploit.

Among the documents disclosed are statements from Tether’s banks showing the full existence of their reserves, as demonstrated by their publicly-disclosed, independent, third-party assurance attestations. Tether has been applying best-in-class asset management concepts, short-term investments, and diversification.

As per the report, these materials should debunk all that unfounded FUD. Furthermore, the materials are outdated and do not accurately reflect the present state of their reserves, nor do they account for the transformative changes in their ecosystem. Tether has reduced its commercial paper holdings to zero in mid-2022 and drastically reduced its secured loans portfolio, with the aim to bring it to zero in the coming months.

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