Senator Blumenthal probes Cantor Fitzgerald over Tether ties
CIE News ·
Senator Richard Blumenthal sent an inquiry to Cantor Fitzgerald CEO Brandon Lutnick demanding details on the firm's safeguards and custody of Tether reserves, CoinDesk reported.
Senator Richard Blumenthal, the leading Democrat on the Senate Permanent Subcommittee on Investigations, sent a letter to Cantor Fitzgerald CEO Brandon Lutnick questioning the financial firm's partnership with Tether, according to CoinDesk. The lawmaker requested details regarding the steps Cantor Fitzgerald has taken to investigate allegations that Tether (USDT) has been used in illicit finance, money laundering, Iran's shadow banking network, and Russia sanctions evasion.
Blumenthal stated that while Tether claims to operate from El Salvador, the vast majority of its assets are held in the United States under Cantor Fitzgerald's custodianship. He questioned Lutnick about the firm's banking and sanctions safeguards, as well as the history of former CEO Howard Lutnick with Tether. Neither Cantor Fitzgerald nor Tether immediately responded to requests for comment.