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Cantor Fitzgerald under Senate probe over Tether ties
Senator Richard Blumenthal, ranking Democrat on the Senate Permanent Subcommittee on Investigations, has launched a formal inquiry into Cantor Fitzgerald regarding its extensive financial ties to the stablecoin issuer Tether. The investigation focuses on Cantor Fitzgerald’s reported $10 billion stake in Tether and its role in managing the custody of U.S. Treasury securities that back the USDT stablecoin.
Blumenthal is seeking comprehensive records on how Cantor Fitzgerald monitors compliance with banking and sanctions laws. The inquiry is driven by concerns that Tether’s USDT may be used by Iran to circumvent international sanctions, potentially posing a national security risk. Additionally, the senator is demanding transparency regarding the involvement of Commerce Secretary Howard Lutnick, requesting all communications between Lutnick and Tether, including those occurring after he stepped down from his leadership role at Cantor Fitzgerald.
Reports indicate that Cantor Fitzgerald’s interest in Tether has grown significantly, from an estimated $600 million to approximately $10 billion. The probe also examines the financial windfall for Howard Lutnick, who reportedly earned over $250 million during the past two years, including a $192 million distribution from the firm. Cantor Fitzgerald has until October 23, 2026, to provide the requested documentation.
Entities
Cantor Fitzgerald · Howard Lutnick · Richard Blumenthal · Tether · U.S. Senate Permanent Subcommittee on Investigations
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Senator Richard Blumenthal has launched a formal inquiry into Cantor Fitzgerald’s financial ties with Tether. nosmokesport.com · www.cryptobreaking.com · www.cryptopolitan.com
- [● 2 SOURCES] There are allegations that Tether’s USDT stablecoin is used by Iran to circumvent international sanctions. nosmokesport.com · www.cryptobreaking.com
- [● 2 SOURCES] The inquiry demands records regarding Cantor Fitzgerald’s earnings, custody services, and monitoring of sanctions violations. nosmokesport.com · www.cryptobreaking.com
- [○ 1 SOURCE] Cantor Fitzgerald has been given until October 23, 2026, to respond to the inquiry. nosmokesport.com
- [● 2 SOURCES] Blumenthal requested all communications involving Commerce Secretary Howard Lutnick regarding Tether, including those after he left Cantor Fitzgerald. www.cryptobreaking.com · www.cryptopolitan.com
- [● 2 SOURCES] Cantor Fitzgerald’s interest in Tether is estimated to have grown from $600 million to approximately $10 billion. nosmokesport.com · www.cryptopolitan.com
- [● 2 SOURCES] Cantor Fitzgerald reportedly acquired a 5% stake in Tether in 2024. nosmokesport.com · www.cryptopolitan.com
- [○ 1 SOURCE] Howard Lutnick reportedly earned over $250 million, including a $192 million distribution, during the past two years. www.cryptopolitan.com