Senator Richard Blumenthal, the top Democrat on the Senate Permanent Subcommittee on Investigations, sent Cantor Fitzgerald a 13-item request for records on its business arrangement with Tether, the issuer of USDT, by October 23. Cantor’s 5% stake in Tether reportedly rose from $600 million to an estimated $10 billion since Trump returned to power. Blumenthal also asks for the terms of any Tether loan that allowed Howard Lutnick, now Commerce Secretary, to transfer his Cantor stake to his children, as Lutnick made over $250 million since Trump’s return. The letter does not accuse Cantor of breaking any specific law but describes the probe as investigating the illicit use of cryptocurrencies and the Trump Administration’s self-enrichment and self-dealings with cryptocurrency firms.
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