The U.S. Senate has asked Binance, Tether and cryptocurrency firms linked to President Donald Trump to turn over related records.

Cointelegraph reported on Nov. 9 that U.S. Senator Richard Blumenthal asked Binance, Tether, World Liberty Financial and Fight Fight Fight LLC to voluntarily submit the materials by Jan. 4, 2027.

Blumenthal is the top Democrat on the Senate Permanent Subcommittee on Investigations and is set to become chairman next year if Democrats take control of the Senate. He asked the companies to begin producing records on Nov. 30.

He warned that further action could follow if the companies miss the deadline. Under the subcommittee's rules, the chairman can issue subpoenas to compel the production of documents and records.

The inquiry is tied to a broader investigation into possible evasion of sanctions on Russia and Iran, as well as links to Trump's cryptocurrency businesses.

Blumenthal previously asked Binance for transaction records tied to Iran-linked groups and Russia's so-called shadow fleet. He also requested materials from Tether related to the use of USDT by sanctioned entities.

Separately, the investigation into World Liberty Financial and Fight Fight Fight is examining the ownership structure of Trump's cryptocurrency businesses, foreign investment and safeguards to prevent conflicts of interest.