- Artists: Harry Styles
Tether has also since been under some scrutiny from the crypto community after they dissolved a relationship with their New York-based auditor before an official audit was released. The “stable-coin” issuers recently minted 250 mln more USDT at the end of May, renewing debate about whether Tether has enough cash reserves to back each token with one US dollar as they advertise.
The June 5 FOIA request, which was initially submitted in February, asked for "subpoenas issued to iFinex inc. also known as Bitfinex and it's [sic] subsidiary companies, as well as subpoenas issued Tether Limited and its subsidiary companies.”
The CFTC’s negative response to the request noted that it had "thousands of responsive records, all of which are exempt from the FOIA's disclosure requirement.”
The letter cited one FOIA exemption that disclosure could impede their law enforcement activities, as well as another that excludes the records on the ground that "confidential sources are not lost because of retaliation against the sources for past disclosures or because of the sources' fear of future disclosures."
In response to Cointelegraph’s request for comment, Kasper Rasmussen, the head of marketing at Bitfinex, provided the following statement:
"We routinely receive legal process from law enforcement agents and regulators conducting investigations. It is our policy not to comment on any such requests."