Senator writes to Cantor, inquiring about the relationship with Tether
On October 8, 2026, Senator Richard Blumenthal, the chief member of the minority party of the U.S. Senate Permanent Subcommittee on Investigations, sent a letter to Cantor Fitzgerald Chairman Brandon Lutnick, requesting the preservation of documents and answers regarding the company's relationship with the stablecoin issuer Tether. The deadline for responses to the five-page letter is October 23, 2026. This request comes from the minority party of the subcommittee, is part of an investigative inquiry, and is not a law enforcement order, nor does it constitute a determination against Cantor, nor does it alter the operation or redemption of USDT.The letter states that since President Trump took office again, the valuation of Cantor's 5% stake in Tether has risen from $600 million to an estimated $10 billion, with Cantor earning tens of millions of dollars each year for holding assets on behalf of Tether; former Cantor Chairman and current Secretary of Commerce Howard Lutnick has profited over $250 million during the same period, including a $192 million distribution from Cantor. The page notes that the above content reflects allegations and estimates made by the senator, and does not represent conclusions drawn from this request. Blumenthal also wrote that Tether claims to operate in El Salvador, but the vast majority of its assets are in the U.S., held by Cantor.
