Tether: New York State Attorney General's Office Provides Tether-Related Document Response to CoinDesk

Tether said, “The New York State Attorney General’s Office provided CoinDesk with response documents on the morning of June 15, local time, as Tether decided to drop its objection to CoinDesk. Shortly after Tether and the New York State Attorney General’s Office reached a settlement in 2021 , CoinDesk requested the public disclosure of material related to Tether's first quarterly report under the New York Freedom of Information Act. While CoinDesk may still review the information provided, we are monitoring the USDT market for signs of further manipulation aimed at spreading fear. Tether calls on CoinDesk not to publicly share any past or current customer names." Tether said, "In the disclosed documents, Tether Bank's statement shows that our reserves fully exist, however, these materials are out of date and do not accurately reflect the current status of reserves. , also fails to account for the transformation of the ecosystem. Among other actions, Tether reduced its commercial paper holdings to zero by mid-2022 and significantly reduced its secured loan portfolio, aiming to bring them down in the coming months. to zero."