Blumenthal Seeks Tether Relationship Documents From Cantor Fitzgerald
Senator Richard Blumenthal has expanded his review of Tether to include Cantor Fitzgerald. He is seeking documents from Chairman Brandon Lutnick on asset custody, ownership interests and sanctions-risk controls.
Senator Richard Blumenthal has expanded his review of Tether to its relationship with financial firm Cantor Fitzgerald. In a letter dated October 8, 2026, addressed to the company’s chairman, Brandon Lutnick, he requested the preservation of records and answers about the partnership between the two companies.
Blumenthal is the Democratic ranking member of the Senate Permanent Subcommittee on Investigations (PSI). The senator asked Cantor Fitzgerald to provide answers and documents by October 23, 2026.
Blumenthal and Tether: Subject of the Request
The letter concerns asset custody, ownership interests, anti-money-laundering and know-your-customer procedures (AML/KYC), as well as controls for sanctions-related risks. The senator asks about the services Cantor Fitzgerald provides to Tether, according to the letter, and the company’s internal procedures for assessing these risks.
The request directly follows the PSI’s September 28 report on the use of the USDT stablecoin in wallets linked to Iran. After the report was published, Blumenthal also contacted the U.S. Department of the Treasury (Treasury) and the Department of Justice (DOJ).
Oversight Expands to Financial Partner
The new step shifts political oversight of Tether from questions about the use of USDT in wallets linked to Iran to its U.S. financial partner as well. According to the letter, Cantor Fitzgerald provides Tether with custody and other services.
Blumenthal’s letter is not an accusation or an enforcement action by a regulatory or investigative authority. The claims in the document about the scale of Cantor Fitzgerald’s profits, the value of its interest in Tether, or insufficient freezing of funds are claims made by the senator and his team, not findings by a court or regulator.
It has not been confirmed that Cantor Fitzgerald, Tether, Treasury or DOJ launched a formal investigation in response to these matters, or that any law was violated. At the time of verification, no public response from Cantor Fitzgerald or Tether to the new letter was available.
What Comes Next
- whether Cantor Fitzgerald responds by October 23 and whether the PSI publishes the response or further steps,
- statements from Cantor Fitzgerald and Tether regarding the requests and claims in the letter,
- any public action by Treasury, DOJ or OFAC that would independently confirm or disprove the suspicions.
Sources
- U.S. Senate Permanent Subcommittee on Investigations – The primary letter dated October 8, 2026, confirms the recipient, the scope of the requested documents and the October 23 deadline.
- CoinDesk – Independently confirms that the letter was sent and that it followed Blumenthal’s earlier criticism of Tether.
- Senator Richard Blumenthal – Documents the earlier publication of the PSI report and the September 28, 2026, requests to Treasury and DOJ.
Verified and updated: 10/09/2026 15:22
