Top Democrat among Senate investigators probes ties between Cantor Fitzgerald, Tether
Summary
Senator Richard Blumenthal has asked Cantor Fitzgerald CEO Brandon Lutnick to explain the firm’s ties to Tether, including its safeguards against sanctions evasion and money laundering. Blumenthal cited allegations that USDT has been used in Iran’s shadow banking network and to evade Russian sanctions, and questioned the role of Cantor, which safeguards much of Tether’s U.S. reserves, as well as former CEO Howard Lutnick’s history with Tether. Cantor and Tether had not commented. The report notes that a possible Democratic Senate majority after the November election could give critics greater investigative authority, including subpoena power.
