Senator Richard Blumenthal, a top Democrat among Senate investigators, has sent Cantor Fitzgerald a letter with questions about its relationship with Tether. Cantor is Tether's main U.S. financial partner. If Washington wants answers from the stablecoin issuer, Cantor is the easiest place to apply pressure.
The letter comes after a report from Democratic investigators last month. It alleged that Tether's dollar token has become a working tool for Iran's shadow banking network. A report makes headlines and then stalls. A letter to the firm handling Tether's U.S. business forces someone to answer on the record.
Democrats are gaining ground in their bid to retake the Senate. If they win the majority, inquiries like this would carry committee power behind them. Anyone with stablecoin exposure should watch how Cantor responds.
$ETH $OGN $RLC
The letter comes after a report from Democratic investigators last month. It alleged that Tether's dollar token has become a working tool for Iran's shadow banking network. A report makes headlines and then stalls. A letter to the firm handling Tether's U.S. business forces someone to answer on the record.
Democrats are gaining ground in their bid to retake the Senate. If they win the majority, inquiries like this would carry committee power behind them. Anyone with stablecoin exposure should watch how Cantor responds.
$ETH $OGN $RLC