Senators Warren, Wyden Press Tether, Commerce Secretary Lutnick Over Loan to Children's Trust This Week

According to Bloomberg reporting this week, Democratic Senators Elizabeth Warren and Ron Wyden pressed stablecoin issuer Tether and Commerce Secretary Howard Lutnick over a reported loan made by Tether to a trust where Lutnick's four children are beneficiaries. In their letter to Lutnick and Tether CEO Paolo Ardoino, the senators questioned whether Tether attempted to bribe Lutnick by providing capital for his children to purchase his ownership stake in Cantor Fitzgerald, which Lutnick transferred to trusts as part of federal conflict-of-interest requirements after becoming Commerce Secretary in February 2025. Cantor Fitzgerald has served as custodian for Tether's reserves since 2021.
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