American investment bank Cantor Fitzgerald is under investigation by Senator Richard Blumenthal over its ties to Tether, the USDT stablecoin issuer. Cantor’s stake in Tether reportedly surged from $600 million to $10 billion since Trump’s return to power. The Lutnick family, including current Commerce Secretary Howard Lutnick, received over $250 million during this period, including $192 million from Cantor Fitzgerald. Blumenthal has also called on Treasury and the Justice Department to investigate potential sanctions violations, following allegations that USDT has become a key tool in Iran’s shadow banking network. Tether responded that it has been working with authorities and frozen nearly $550 million in Iran-linked USDT this year.
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