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Senate investigator probes Cantor Fitzgerald over Tether ties

United States Senator Richard Blumenthal has launched an inquiry into financial ties and compliance controls between broker Cantor Fitzgerald and stablecoin issuer Tether.

FTMQ Crypto, written by our newsroom0 views

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Picture: CoinDesk Top Stories

Senator Richard Blumenthal, the top Democrat on the Senate Permanent Subcommittee on Investigations, sent a letter on Thursday to Cantor Fitzgerald Chief Executive Brandon Lutnick. CoinDesk, Traders Union, and Crypto Briefing all reported that Blumenthal is demanding details regarding the firm's financial relationship with Tether, the dominant issuer of stablecoins. [1][2][3][4]

Traders Union and Crypto Briefing reported that the inquiry focuses on compliance controls and financial ties between the two entities. Brandon Lutnick took over leadership of the financial services firm after his father, Howard Lutnick, resigned to become the United States Secretary of Commerce, as CoinDesk reported. [1][3][4]

Cantor Fitzgerald is an American financial services firm founded in 1945 that operates as a primary dealer of United States government securities. The Democratic Party, founded in 1828, is one of the two major political parties in the United States along with the Republican Party. [5][6][8]

The probe comes as Democratic lawmakers seek greater oversight authority ahead of upcoming Congressional elections, CoinDesk reported. Neither Cantor Fitzgerald nor Tether has released an official response regarding the letter. [1]

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In short

  • Senator Richard Blumenthal sent a letter demanding answers from Cantor Fitzgerald regarding its ties to Tether.
  • The inquiry is led by the top Democrat on the Senate Permanent Subcommittee on Investigations.
  • Brandon Lutnick serves as Chief Executive Officer of Cantor Fitzgerald after taking over from Howard Lutnick.
  • Traders Union and Crypto Briefing reported that the probe examines compliance controls and financial arrangements.

Sources

Every paragraph above points to the numbered items it rests on. Read the originals here.

  1. [1]Top Democrat among Senate investigators probes ties between Cantor Fitzgerald, TetherCoinDesk Top Stories, 4h ago (the report this story comes from)
  2. [2]Top Democrat among Senate investigators probes ties between Cantor Fitzgerald, TetherCoinDesk, 4h ago
  3. [3]Cantor Fitzgerald faces Senate probe over Tether ties and compliance controlsTraders Union, 4h ago
  4. [4]Senator Blumenthal probes ties between Tether and Cantor FitzgeraldCrypto Briefing, 4h ago

Background

  1. [5]Democratic Party (United States) on Wikipedia
  2. [6]Cantor Fitzgerald on Wikipedia
  3. [7]Durham special counsel investigation on Wikipedia
  4. [8]Cantor Fitzgerald on Grokipedia

Our newsroom writes these reports with the help of software, from the 8 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.

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Earlier reports of ours on the same people and subjects.

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