{"id":55548,"date":"2022-01-08T11:27:22","date_gmt":"2022-01-08T09:27:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=55548"},"modified":"2025-09-04T02:06:18","modified_gmt":"2025-09-03T23:06:18","slug":"tether-seeks-court-protection-for-confidential-information-from-coindesk","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tether-seeks-court-protection-for-confidential-information-from-coindesk\/","title":{"rendered":"Tether seeks court protection for confidential information from CoinDesk"},"content":{"rendered":"

Tether petitioned<\/a> to protect confidential information and bar disclosure of data on USDT reserves. The statement was published amid CoinDesk’s official joining<\/a> of the stablecoin issuer’s proceedings with the New York Attorney General (NYAG).<\/p>\n

In June, the news agency filed a request with the NYAG for any documents relating to USDT reserves. In February, the department obtained these data<\/a> in the course of settling the company\u2019s case over financial operations tied to an $850 million loss.<\/p>\n

NYAG staff initially rejected the outlet’s request, but CoinDesk gained access on appeal. Tether said that disclosure of such data would put its competitive advantage at risk<\/a>, and petitioned to bar disclosure.<\/p>\n

CoinDesk noted that the petition to appeal should be denied, as the public interest in this case outweighs commercial secrets.<\/p>\n

Tether added that CoinDesk and the stablecoin issuer Circle (USDC) share an investor through Digital Currency Group.<\/p>\n

\n

“CoinDesk’s publication of its legal documents does not warn readers about this egregious conflict of interest. Using the media as a weapon is a disservice to the ecosystem,” according to Tether’s statement.<\/p>\n<\/blockquote>\n

In August, the auditing firm Moore Cayman confirmed 100% backing with assets<\/a>. However, cash and bank deposits accounted for 10% of the reserves, and 49% consisted of commercial papers.<\/p>\n

In October, the research firm Hindenburg Research doubted the reliability of the information on USDT reserves<\/a> and offered a $1 million reward for the disclosure of previously unknown information about them.<\/p>\n

Earlier that month, the US Commodity Futures Trading Commission ordered<\/a> Tether and Bitfinex to pay civil penalties totaling $42.5 million.<\/p>\n

Read ForkLog’s Bitcoin news in our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tether petitioned to protect confidential information and bar disclosure of data on USDT reserves. The release came as CoinDesk joined the New York Attorney General’s proceedings against the stablecoin issuer.<\/p>\n","protected":false},"author":1,"featured_media":55549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[183,1245],"class_list":["post-55548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coindesk","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=55548"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55548\/revisions"}],"predecessor-version":[{"id":55550,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55548\/revisions\/55550"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/55549"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=55548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=55548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=55548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}