CoinDesk is now party to the proceedings on the documents regarding the $78.4-billion worth of stablecoins after requesting the records on the matter.
- In a memorandum filed with the court on January 4, CoinDesk cited the importance of disclosing the request information, which outweighs any private interest Tether may have.
- This comes after Tether and its parent firm iFinex called on the State Supreme Court to stop the New York Attorney General’s Office from sharing the documents which were requested by CoinDesk.
- CoinDesk has become a party to the discussions due to its stake in the outcome, and it claims that the investing public also has a stake in the proceedings. Neither Tether nor the NYAG has objected to the development.
CoinDesk’s Freedom of Information Law (FOIL) request was initially rejected by the NYAG, which it later appealed, and the decision was reversed.