U.S. Senator Blumenthal demands Cantor Fitzgerald produce Tether custody and compliance records by October 23.
DeFi & Yields ·
Senator Richard Blumenthal set an October 23 deadline for Cantor Fitzgerald to submit records on its custody arrangements, ownership stakes, audits, and compliance procedures related to Tether, according to defiprime.com. Blumenthal, ranking member of the Permanent Subcommittee on Investigations, cited concerns that Tether operates from El Salvador while holding the vast majority of its assets in the United States under Cantor's custody, and alleged that Tether has not frozen funds in wallets receiving millions of dollars from actors tied to Iran. Cantor's stake in Tether has risen from an estimated $600 million to $10 billion since President Trump's return to office, and the firm collects tens of millions annually from assets it holds for Tether.