Blumenthal probes Cantor Fitzgerald’s Tether ties
- US Senator Richard Blumenthal has demanded records from Cantor Fitzgerald about its relationship with Tether.
- The inquiry examines sanctions compliance, custody arrangements and the firm’s financial ties to the stablecoin issuer.
- Cantor Fitzgerald must respond to the Senate subcommittee’s information requests by 23 October 2026.
US Senator Richard Blumenthal has demanded answers from Cantor Fitzgerald about its Tether relationship, seeking records on compliance and financial ties.
The inquiry follows a Senate report alleging Tether’s US dollar-pegged stablecoin, Tether (USDT), supports parts of Iran’s shadow banking network.
“Disturbingly, Cantor Fitzgerald’s lucrative business arrangements with Tether come at the expense of America’s national security,” according to US Senator Richard Blumenthal, Ranking Member of the Senate Permanent Subcommittee on Investigations.
Blumenthal’s letter asks Cantor Fitzgerald Chairman Brandon Lutnick to explain how the firm monitors potential banking, anti-money laundering and sanctions violations linked to Tether.
The requests cover Tether’s audits, custody arrangements, Cantor Fitzgerald’s ownership stake, revenue from the partnership and procedures for reviewing business relationships.
The letter also asks for records concerning former Cantor Fitzgerald chairman Howard Lutnick, now US Commerce Secretary, and his family’s interests in the firm and Tether.
Blumenthal cited the Senate inquiry’s findings that wallets linked to Iran and associated groups had increasingly relied on USDT, while questioning whether relevant funds had been frozen.
Cantor Fitzgerald must provide the requested information by 23 October 2026, as the inquiry adds pressure on stablecoin oversight and sanctions compliance.
