Supreme Court dismisses Tether’s lawsuit against Coindesk website

The US Supreme Court has refused to grant USDT issuer’s petition aimed at prohibiting the publication of CoinDesk’s information on the detailed state of the stablecoin’s reserves.

The petition filed by Tether’s team with the New York State Supreme Court to block the viewing of documents detailing the state of Tether’s reserves over the past few years was rejected.

In February, lawyers representing the issuer of the stablecoin Tether filed a lawsuit against the New York Attorney General’s Office against the CoinDesk website in connection with the publication of Tether’s reserves.

The decision of the US Supreme Court is related to the risks to investors and the financial system itself from the stablecoin market and Tether’s reputation.