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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/10/2026

Senate Democrat Probes Cantor Fitzgerald’s Tether Ties and Lutnick Family Profits

What happened: Senator Richard Blumenthal sent a letter to Cantor Fitzgerald chairman Brandon Lutnick, seeking records on the firm’s Tether dealings, KYC/AML procedures, and alleged profits by Commerc

Senate Democrat Probes Cantor Fitzgerald’s Tether Ties and Lutnick Family Profits

What happened: Senator Richard Blumenthal sent a letter to Cantor Fitzgerald chairman Brandon Lutnick, seeking records on the firm’s Tether dealings, KYC/AML procedures, and alleged profits by Commerce Secretary Howard Lutnick’s family. The inquiry, citing a Senate staff report on USDT’s role in Iranian sanctions evasion, requests details on a 5% Tether stake that reportedly grew from $600 million to $10 billion since early 2025. Howard Lutnick allegedly received over $250 million in distributions since January 2025.

Why it matters: While the inquiry lacks subpoena power, it intensifies political scrutiny of Tether’s role in global finance and Cantor Fitzgerald’s profits. The focus on sanctions compliance and high-level political connections could spur further investigations or regulatory action, especially as stablecoins face mounting cross-border pressure.

Source: Decrypt