Blumenthal sets January deadline for crypto firms
Key points
- US Senator Richard Blumenthal has warned Binance, Tether, World Liberty Financial and Fight Fight Fight LLC to submit requested investigation records.
- The Senate Permanent Subcommittee on Investigations set 4 January 2027 as the voluntary records deadline.
- The inquiry examines alleged cryptocurrency-related misconduct, potential ethics violations and financial links involving Trump-connected crypto businesses.
US Senator Richard Blumenthal, incoming chair of the Senate Permanent Subcommittee on Investigations, issued the warning on 5 November.
The companies face scrutiny over cryptocurrency activities, alleged financial misconduct and potential conflicts involving the Trump Administration.
“Please also note that failure to voluntarily produce the requested records and information by January 4, 2027, will leave the Subcommittee with no choice but to consider alternative measures to obtain compliance,” US Senator Richard Blumenthal said in a statement.
The inquiry examines Binance and Tether's alleged role in cryptocurrency transactions linked to Iran's shadow banking network.
Blumenthal also questioned whether Tether (USDT) provided financial support to entities operating within Iran's shadow banking system.
World Liberty Financial Inc (WLFI) faces scrutiny over allegations involving foreign investments, government ethics and potential legal violations.
The investigation also covers the $TRUMP cryptocurrency, following a May 2025 inquiry and a July 2026 public forum.
The January deadline places cryptocurrency companies under continued congressional scrutiny over financial transparency, sanctions compliance and political connections.
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