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Democratic Senators Pressure Tether Over Alleged Bribery of U.S. Commerce Secretary
On May 1, Democratic Senators Elizabeth Warren and Ron Wyden pressured both parties regarding Tether’s alleged bribery of U.S. Commerce Secretary Howard Lutnick. Reports indicate that Tether provided undisclosed loans to a trust fund benefiting Howard Lutnick’s children, while Cantor Fitzgerald, where Lutnick previously worked, was also Tether’s reserve asset management firm. Elizabeth Warren and Ron Wyden further pointed out that the previously passed ‘Genius Act’ benefited Tether, which had lobbied in support of the legislation, suggesting the possibility of a quid pro quo.