Senator Blumenthal Investigates Cantor Fitzgerald’s Tether Partnership
- Senator Richard Blumenthal demands records from Cantor Fitzgerald regarding its partnership with Tether.
- Cantor Fitzgerald holds a reported 5% stake in Tether, which has surged in estimated value from $600 million to $10 billion.
- Howard Lutnick, Commerce Secretary and former Cantor CEO, reportedly received over $250 million linked to this partnership.
- Blumenthal’s inquiry follows allegations that Tether’s USDt is used in Iran’s shadow banking network.
- Tether claims to have frozen nearly $550 million in USDT related to Iran this year.
- Blumenthal has requested a response from Cantor by October 23, including details on compliance and audits of Tether.
The investigation highlights potential national security risks associated with Cantor Fitzgerald’s lucrative ties to Tether, particularly amid allegations of sanction violations involving Iran.
As the value of Cantor’s stake in Tether has escalated significantly, the senator’s scrutiny emphasizes the need for transparency and compliance within such partnerships.(Source)
