Democratic Senator Requests Documents from 4 Crypto Companies by January 4

Democratic Senator Richard Blumenthal has requested documents from Binance, Tether, World Liberty Financial, and Fight Fight Fight LLC to be submitted by January 4 as part of an investigation he initiated in 2025. According to official documents from the investigation, it is alleged that the largest stablecoin, USDT, was used to circumvent banking sanctions against Iran. Binance is also under a similar investigation, and both parties deny the allegations. Blumenthal has also begun examining payments made by Tether to a consulting firm called Nxum, which is linked to Bo Hines, who was responsible for crypto policies during the Trump administration. Hines left his position at the White House in 2025 to head Tether's U.S. branch. World Liberty Financial and Fight Fight Fight LLC are being investigated for conflict of interest allegations related to Trump's companies. Following the Democrats gaining a majority in both chambers of Congress, pressure on Trump regarding crypto is expected to increase.

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