# Senator Seeks Cantor Records on Tether Stake and Financial Ties

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/29312
Published: 2026-10-10T00:15:17.000Z
Updated: 2026-10-10T00:15:17.000Z
Section: Regulation

> Richard Blumenthal gave Cantor Fitzgerald until Oct. 23 to preserve documents and answer questions about its relationship with Tether.

Sen. Richard Blumenthal is seeking documents and answers from Cantor Fitzgerald about its financial relationship with Tether and related interests, putting the stablecoin issuer’s US ties under congressional scrutiny.

Blumenthal, the top minority member of the Senate Permanent Subcommittee on Investigations, sent the five-page letter to Cantor Chairman Brandon Lutnick on Oct. 8. He requested that Cantor preserve relevant records and respond by Oct. 23.

The letter says Cantor’s 5% stake in Tether rose in estimated value from $600 million to $10 billion after President Donald Trump returned to office. It also says Cantor receives tens of millions of dollars annually for holding Tether’s assets.

Blumenthal further alleges that Howard Lutnick, Cantor’s former chairman and the current commerce secretary, gained more than $250 million during the period, including a $192 million distribution from Cantor.

The inquiry comes from the panel’s minority members and is not an enforcement order or a finding against Cantor. It does not alter USDT’s operation or redemption process. Blumenthal also wrote that Tether claims to operate in El Salvador while most of its assets are held in the United States by Cantor.