Elizabeth Warren and Ron Wyden have questioned Commerce Secretary Howard Lutnick and Paulo Ardoino over reports that Tether provided a loan linked to Lutnick’s family trust.
The senators said such financing could raise “serious questions” about potential conflicts of interest and whether Tether may have undue influence over policy decisions.
“If reports of this loan are accurate, it would raise serious questions about the relationship between Secretary Lutnick and Tether, and the influence of Tether on Mr. Lutnick’s policy decisions,”
The lawmakers wrote.
The reported loan is tied to a trust that helped finance the transfer of Lutnick’s stake in Cantor Fitzgerald to his adult children as part of ethics compliance after joining government.
The inquiry comes as Tether expands its presence in the US following the passage of the GENIUS Act, a new law governing stablecoin issuers, and increasing involvement in policy discussions.
Lawmakers emphasised that government decisions must prioritise public interest over private financial ties, particularly as crypto firms play a growing role in financial regulation.
Neither the Commerce Department nor Tether immediately responded to the letters, as scrutiny over stablecoin influence in Washington continues to intensify.