Anti-Crypto Senator Warren Raises Concerns Over Commerce Secretary Nominee's Tether Involvement

Uk Jin

Summary

Senator Elizabeth Warren has raised concerns over Commerce Secretary nominee Howard Lutnick's involvement with Tether.
Senator Warren stated that nominee Lutnick's investment bank must clarify its financial relationship with Tether.
Specific answers are required regarding the amount Cantor Fitzgerald has invested in Tether and its compliance with Anti-Money Laundering procedures.

Senator Elizabeth Warren, a Democrat from the United States known for her adversarial stance on cryptocurrencies, has raised concerns regarding Howard Lutnick, the nominee for Commerce Secretary.

According to Bloomberg on the 29th, Senator Warren sent a letter to nominee Lutnick inquiring about the financial relationship between his investment bank, Cantor Fitzgerald, and Tether (USDT).

Additionally, Senator Warren requested specific details on the amount Cantor Fitzgerald has invested in Tether and whether due diligence on Anti-Money Laundering (AML) and international sanctions compliance has been conducted.