Senator Richard Blumenthal has launched an investigation into the relationship between Cantor Fitzgerald and Tether, requesting records regarding custody, compliance, and financial arrangements. The probe focuses on compliance controls and Tether's ownership structure amid increasing political scrutiny of its U.S. partnerships. Cantor Fitzgerald is required to provide reserve records and sanctions compliance data by an October 23 deadline. This action follows a Senate investigation linking Iran-associated wallets to heavy usage of the USDT stablecoin.
Senator Richard Blumenthal requested records on compliance and financial ties between Cantor Fitzgerald and Tether, focusing on the custody of USDT reserves and ownership structures.
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