Senate Democrat Presses Cantor Fitzgerald on Tether Ties and Lutnick Family Profits
Summary
Sen. Richard Blumenthal requested records from Cantor Fitzgerald about its relationship with Tether, including sanctions and anti-money-laundering checks, communications with officials, and the Lutnick family’s financial interests. The Oct. 23 request is not a subpoena and makes no finding of wrongdoing. Blumenthal cited estimates that Cantor’s 5% Tether stake rose from $600 million to $10 billion, alongside fees for holding Tether’s reserves, and asked about a reported loan to a trust for Howard Lutnick’s children. The request follows a Democratic staff report saying most wallets on two sanctions-related lists used USDT; Tether separately reported freezing about $550 million in Iran-linked assets this year.
