Blumenthal asks Cantor for documents on Tether
On October 8, 2026, Richard Blumenthal, the top Democrat on the U.S. Senate Permanent Subcommittee on Investigations, sent a letter to Cantor Fitzgerald Chairman Brandon Lutnick concerning the firm’s relationship with Tether, the issuer of USDT.
He asks the firm to preserve records and respond by October 23 at the latest. The questions cover revenue from the business relationship, asset custody, independent audits, anti-money laundering controls, and sanctions compliance. He also requests communications on these matters. With some exceptions, the requested period begins in January 2023.
The investigation is being conducted by the subcommittee’s minority. The letter revisits allegations in its September 28 report about the use of USDT in networks linked to Iran. The request for information is not a ruling and does not, by itself, impose a sanction.
In a statement issued earlier on September 28, Tether defended its cooperation with authorities and described freezes of funds associated with Iranian networks. That statement predates the October 8 letter; it is not a specific response to it.
When evaluating a stablecoin, both its backing assets and their custody and controls matter. A price close to parity is no substitute for that documentation.
Market snapshot: at 14:43 UTC on 9/10, Binance spot showed USDC at 1.0008 USDT and BTC at 82,940.01 USDT. The first figure is an exchange rate between two stablecoins, not proof of either one’s parity with the dollar or of solvency. The investigation’s impact will depend on subsequent documents and actions.
$USDT $USDC $BTC
Educational Content. Not financial advice.
#Tether #Stablecoins #USDT #Transparencia #Regulation
On October 8, 2026, Richard Blumenthal, the top Democrat on the U.S. Senate Permanent Subcommittee on Investigations, sent a letter to Cantor Fitzgerald Chairman Brandon Lutnick concerning the firm’s relationship with Tether, the issuer of USDT.
He asks the firm to preserve records and respond by October 23 at the latest. The questions cover revenue from the business relationship, asset custody, independent audits, anti-money laundering controls, and sanctions compliance. He also requests communications on these matters. With some exceptions, the requested period begins in January 2023.
The investigation is being conducted by the subcommittee’s minority. The letter revisits allegations in its September 28 report about the use of USDT in networks linked to Iran. The request for information is not a ruling and does not, by itself, impose a sanction.
In a statement issued earlier on September 28, Tether defended its cooperation with authorities and described freezes of funds associated with Iranian networks. That statement predates the October 8 letter; it is not a specific response to it.
When evaluating a stablecoin, both its backing assets and their custody and controls matter. A price close to parity is no substitute for that documentation.
Market snapshot: at 14:43 UTC on 9/10, Binance spot showed USDC at 1.0008 USDT and BTC at 82,940.01 USDT. The first figure is an exchange rate between two stablecoins, not proof of either one’s parity with the dollar or of solvency. The investigation’s impact will depend on subsequent documents and actions.
$USDT $USDC $BTC
Educational Content. Not financial advice.
#Tether #Stablecoins #USDT #Transparencia #Regulation