Senate Probe Puts Binance, Tether and Trump-Linked Crypto Firms on Notice

Sen. Richard Blumenthal gave Binance, Tether and two Trump-linked firms until January 4 to produce records for a Senate probe. He warns that missing the date would force the Permanent Subcommittee on Investigations (PSI) to weigh other enforcement options. Blumenthal leads the panel’s Democratic minority today but is set to chair it when the new Congress convenes in January. Tether (USDT) accounts for about 60% of stablecoin market value, according to the probe’s September staff report. What Does Each Target in the Senate Probe Face? Binance and Tether face questions about illicit crypto use and the administration’s dealings with crypto firms. Blumenthal opened his Binance inquiry in February. Binance rejected the allegations of Iran sanctions evasion in March, calling them false.

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