Senators Warren, Wyden press Tether and Commerce Secretary Lutnick over loan to family trust
The Block
Senators Warren and Wyden are questioning Commerce Secretary Howard Lutnick and Tether over a loan provided to a trust benefiting Lutnick's children.Summary
Democratic Senators Elizabeth Warren and Ron Wyden have sent a letter to Commerce Secretary Howard Lutnick and Tether CEO Paolo Ardoino regarding a reported loan from Tether to a trust benefiting Lutnick’s children. The senators are investigating potential conflicts of interest, questioning whether the loan helped the children purchase Lutnick’s stake in his former firm, Cantor Fitzgerald, and whether it influenced Tether’s favorable treatment under the GENIUS Act. The inquiry also highlights concerns regarding Tether’s history of regulatory issues, including past settlements with the CFTC and reports of Department of Justice investigations into the firm’s compliance with anti-money laundering and sanctions rules.
(Source：The Block)