Senator Warren questions Commerce Secretary Lutnick on Tether loan to family

Senators Elizabeth Warren and Ron Wyden have sent letters to U.S. Secretary of Commerce Howard Lutnick and Tether CEO Paulo Ardoino, seeking clarification on reports that Tether provided a loan to a trust tied to Lutnick's children. This loan is reportedly intended to finance Lutnick's divestiture of his company stake to his children, a move made to comply with government ethics requirements after he took his Cabinet position. The senators expressed concern that if accurate, the loan could raise questions about the relationship between Secretary Lutnick and Tether, and potentially influence his policy decisions. The letters were prompted by reporting from Bloomberg News. The article also notes Lutnick's involvement in U.S. crypto policy, including his presence at the signing of the GENIUS Act and his membership in the President's Working Group on Digital Assets. Tether, a major stablecoin issuer with a U.S. strategy, and Cantor Fitzgerald, Lutnick's former company now run by his sons, are also mentioned in the context of political donations and business dealings.

(Source：CoinDesk)