U.S. Democratic senator probes Cantor Fitzgerald-Tether financial ties

U.S. Sen. Richard Blumenthal, the top Democrat on the Senate Permanent Subcommittee on Investigations, has opened an inquiry into financial ties between Cantor Fitzgerald and stablecoin issuer Tether, CoinDesk reported. In a letter to Cantor Fitzgerald CEO Brandon Lutnick, Blumenthal requested materials on Tether’s reserve custody relationship and its anti-money laundering and sanctions compliance systems. He also asked the firm to explain what steps it took to examine allegations that Tether was used in Iran’s informal financial networks and to evade sanctions on Russia, according to the report.