Senators Warren, Wyden Quiz Commerce Secretary Lutnick Over Tether Loan to Children’s Trust
Senators Elizabeth Warren and Ron Wyden have requested information from Commerce Secretary Howard Lutnick and Tether CEO Paolo Ardoino regarding a loan Tether made to “Dynasty Trust A,” a trust benefiting Lutnick’s four children. This follows Lutnick’s October 2025 sale of his Cantor Fitzgerald stake to his children to comply with federal ethics rules, and a subsequent loan from Tether to the same trust. The senators raised concerns about potential undue influence or bribery and cited Tether’s reportedly favorable treatment in the July 2025 GENIUS Act, which provided regulatory clarity for stablecoins in the US. Warren has consistently criticized the GENIUS Act and the stablecoin sector, citing risks such as money laundering, lack of consumer protections, and systemic financial threats. Tether has previously faced fines and investigations over misleading statements and possible sanctions or anti-money-laundering violations. Scrutiny around political ties in crypto also increased with reports of Tether stakeholder Christopher Harborne’s large gifts to politicians. Neither Lutnick nor Tether have formally commented.
