Democratic Sen. Richard Blumenthal, a senior member among U.S. Senate investigators, is continuing a review of stablecoin issuer Tether’s financial relationships and has sent a letter to Cantor Fitzgerald CEO Brandon Lutnick seeking information about the connection between the two companies. According to the report, Brandon Lutnick is the son of U.S. Commerce Secretary Howard Lutnick and took over the leadership role at Cantor Fitzgerald after Howard Lutnick joined President Donald Trump’s administration. The report also says Cantor Fitzgerald holds and manages Tether’s reserve assets in the United States and that the two sides share several other business interests. The development was reported by CoinDesk and cited by Odaily.
Democratic Sen. Richard Blumenthal, a senior member among U.S. Senate investigators, is continuing an inquiry into stablecoin issuer Tether’s financial relationships and has sent a letter to Cantor Fitzgerald CEO Brandon Lutnick requesting information about the ties between the two companies.
The report says Brandon Lutnick is the son of U.S. Commerce Secretary Howard Lutnick. After Howard Lutnick joined President Donald Trump’s administration, Brandon Lutnick succeeded him in a leadership role at Cantor Fitzgerald.
Cantor Fitzgerald holds and manages Tether’s reserve assets in the United States, and the two companies also have several other business interests, according to the report.
CoinDesk was cited as the source.
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