USDT
−0.0%Senator Blumenthal probes Tether and Cantor Fitzgerald ties
Image: CointelegraphDemocratic Senator Richard Blumenthal is pressing Tether and Cantor Fitzgerald over their relationship and sanctions compliance concerns. A Democratic Senate staff report alleges Tether's USDT is used by Iran-linked networks or shadow banking activity. Cantor Fitzgerald acquired rights to a 5% stake in Tether and manages or custodies a large portion of its US reserves. Blumenthal asked Treasury and the Justice Department to investigate potential sanction violations. Tether says it cooperates with law enforcement and has frozen roughly $550 million.
Key points
- A Democratic Senate staff report alleges USDT is used for Iran-linked or shadow banking activity.
- Senator Blumenthal is probing Tether and Cantor Fitzgerald ties and sanctions compliance concerns.
- Cantor Fitzgerald holds or acquired rights to a 5% stake in Tether and manages or custodies a large portion of its US reserves.
- Blumenthal asked Treasury and the Justice Department to investigate potential sanction violations.
- Tether says it works with law enforcement and has frozen roughly $550 million in USDT.
Why it matters
USDT is the dominant stablecoin and is issued by a central company that can freeze tokens. Cantor Fitzgerald is both a Tether shareholder and a manager or custodian of a large portion of Tether's US reserves.
What's unclear
Whether Cantor Fitzgerald addresses its dual role as Tether shareholder and reserve manager.
Whether the Treasury and Justice Department will open investigations into Tether.
Price context · USDT
At publication
$0.9993
Now
$0.9993
Change since
+0.00%
7 days · dashed line = publication
Sources · 3 publishers
Crypto Briefing
Tier 2
Senator Blumenthal probes ties between Tether and Cantor Fitzgerald
Cointelegraph
Tier 1
Cantor Fitzgerald faces Senate Democrat’s probe over Tether ties
Coverage timeline
- First reported by CoinDesk
- Confirmed by Crypto Briefing
- CryptoVideos brief published
How this brief was made. Our system found this event in 3 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
