Cantor Fitzgerald faces Senate Democrat’s probe over Tether ties

A Senate Democrat has asked for records from Cantor Fitzgerald about its partnership with Tether, a stablecoin linked to Iran’s shadow banking network. Senator Richard Blumenthal wants details on how the firm works with the stablecoin issuer and how much Commerce Secretary Howard Lutnick’s family has earned from the arrangement. The request follows a Democratic investigation that highlighted Tether’s role in Iran’s financial system.

The letter follows a report by the Democratic investigators last month alleging Tether’s USDT has become a key tool for Iran’s shadow banking network. US investment bank Cantor Fitzgerald is facing scrutiny from a Senate Democrat over its ties to Tether, with Senator Richard Blumenthal demanding records on the firm’s partnership with the stablecoin issuer and how much Commerce Secretary Howard Lutnick’s family has made from the arrangement.

Summarised by Agaah from Cointelegraph. Agaah aggregates 36 sources and removes duplicate coverage — all news, one place.