US Senate Probe Targets Cantor Fitzgerald and Tether Relationship
Key Facts
Senator Richard Blumenthal has requested records regarding custody, compliance, and financial arrangements between Cantor Fitzgerald and Tether. CoinDesk reported that the investigation focuses on compliance controls and the ownership structure of Tether, the issuer of the USDT stablecoin. The move comes amid increasing political scrutiny of Tether's financial partnerships within the United States.
The inquiry seeks information on how Cantor Fitzgerald investigates allegations that Tether's tokens have been used in illicit banking networks, according to TokenPost. Cantor Fitzgerald manages a substantial portion of Tether’s U.S. reserves, which are estimated to exceed $100 billion. The firm has been asked to respond by October 23, 2026.
Latest Updates · 3
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Update: New reports indicate that Cantor Fitzgerald holds a $10 billion stake in Tether. The investigation has also expanded to include questions regarding Howard Lutnick's personal earnings derived from the partnership.
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Update: Senator Richard Blumenthal revealed that Cantor Fitzgerald Chairman Brandon Lutnick received a $250 million windfall. This information emerged as part of the Senate Permanent Subcommittee on Investigations' probe into the financial relationship between the firm and stablecoin issuer Tether.
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Update: The investigation follows a report released by Democratic investigators in September 2026, which alleged that Tether's USDT has become a key tool for Iran's shadow banking network. This report links the current parliamentary scrutiny to national security concerns and the use of stablecoins in bypassing international sanctions.