COINDESK · 2026-10-08 21:23 UTC

Top Democrat among Senate investigators probes ties between Cantor Fitzgerald, Tether

Senate Democrat Richard Blumenthal is investigating ties between Cantor Fitzgerald and Tether, questioning whether the stablecoin issuer and its U.S. reserve custodian have profited from illicit activities including Iran sanctions evasion. Blumenthal sent a letter to Cantor CEO Brandon Lutnick (son of Trump's Commerce Secretary) demanding details on banking safeguards and Tether's alleged use in money laundering and illicit finance. Democrats could gain subpoena power if they win Senate seats in November elections, with prediction markets showing 61-64% odds of a Democratic majority.

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