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