Senate Democrat Presses Cantor Fitzgerald on Tether Ties and Lutnick Family Profits

Sen. Richard Blumenthal is asking Wall Street firm Cantor Fitzgerald to hand over records on its business relationship with Tether, the issuer of USDT, the world’s largest stablecoin—the dollar-pegged digital asset that underpins the crypto economy. He also wants to know how much money the family of Commerce Secretary Howard Lutnick has made from the arrangement, according to a letter dated Thursday. “Disturbingly, Cantor Fitzgerald’s lucrative business arrangements with Tether come at the expense of America’s national security,” Sen. Blumenthal argued.