# Senate Democrat Seeks Records on Cantor Fitzgerald, Tether Ties

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/28541
Published: 2026-10-08T21:26:35.000Z
Updated: 2026-10-08T21:26:35.000Z
Section: Regulation

> Sen. Richard Blumenthal asked Cantor Chairman Brandon Lutnick for records on custody, ownership, compliance controls and family financial arrangements tied to Tether.

Sen. Richard Blumenthal is seeking records on Cantor Fitzgerald’s financial and custody relationship with Tether, intensifying Senate scrutiny of the company behind the USD₮ stablecoin.

Blumenthal, the ranking Democrat on the Senate Permanent Subcommittee on Investigations, sent Cantor Chairman Brandon Lutnick a letter Thursday requesting records from Jan. 1, 2023, onward. The requests cover Cantor’s revenue from Tether, its custodial role, compliance controls and any payments or financial arrangements involving the Lutnick family.

The letter asks Cantor to describe how it investigates allegations that Tether’s token has been used in Iran’s shadow-banking network and for Russia sanctions evasion. It also seeks information about any Tether loan or other arrangement connected to Howard Lutnick’s transfer of his Cantor ownership to his children.

Blumenthal cited an alleged 5% Cantor stake in Tether that rose in estimated value from $600 million to $10 billion after President Donald Trump returned to office. A separate Senate document records Howard Lutnick denying that Cantor had a Tether investment.

Tether reported $187.75 billion in assets, $183.64 billion in liabilities and a $4.11 billion excess over liabilities as of June 30. Cantor was asked to respond by Oct. 23.