U.S. Senator Blumenthal Seeks Records From Tether, Binance and Trump-Linked Crypto Firms
U.S. Senator Richard Blumenthal has sent letters to Tether, Binance and two cryptocurrency businesses linked to President Donald Trump, demanding records as part of ongoing Senate investigations into alleged illicit crypto flows and the Trump administration's dealings with digital asset companies. The firms face a January 4, 2027 deadline, according to information shared by Coin Bureau.
Blumenthal, who is set to become chair of the Senate Permanent Subcommittee on Investigations, is examining several areas of concern. These include the alleged use of Tether's USDT stablecoin in Iran's shadow banking network and potential conflicts of interest involving cryptocurrency ventures connected to the Trump family.
Trump-Linked Crypto Firms Face November 30 Request
Two companies identified in the inquiry are World Liberty Financial and Fight Fight Fight LLC, the firm behind the $TRUMP memecoin. Both were asked to begin handing over records by November 30.
The investigation involving the Trump-linked businesses focuses on foreign investments and potential conflicts of interest in crypto ventures associated with the president's family. The request for records is intended to support the Senate panel's examination of those activities.
The inquiry also extends to Tether and Binance. Coin Bureau's post identifies Tether's USDT as a particular focus because of allegations that the stablecoin has been used within Iran's shadow banking network. The post does not provide further details about the transactions under examination or specify what records were requested from each company.
Senate Panel Warns of Alternative Measures
Blumenthal warned that the subcommittee would consider "alternative measures" if the companies fail to meet the January deadline. The warning signals that the panel is prepared to consider other steps if its requests for information are not fulfilled.
The two dates establish separate milestones in the inquiry. World Liberty Financial and Fight Fight Fight LLC were asked to start providing records by November 30, while January 4, 2027, is the broader deadline identified for the ongoing Senate investigations.
The requests bring together two distinct areas of scrutiny: alleged illicit financial activity involving cryptocurrency and questions about foreign investment and potential conflicts of interest in Trump-family crypto businesses. The Senate investigation also includes dealings between the Trump administration and crypto firms.
As the incoming chair of the Senate Permanent Subcommittee on Investigations, Blumenthal is seeking records from Tether, Binance, World Liberty Financial and Fight Fight Fight LLC as the panel pursues those inquiries.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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