Warren and other US senators question Tether and Commerce Secretary Howard Lutnick over related-party loan

Odaily Planet Daily News This week, US Democratic Senators Elizabeth Warren and Ron Wyden sent letters to Tether CEO Paolo Ardoino and US Commerce Secretary Howard Lutnick, expressing concerns over a loan provided by Tether to a family trust fund where Lutnick's children are beneficiaries.

The letter points out that before becoming Commerce Secretary, Lutnick led Cantor Fitzgerald, which has been serving as the custodian of Tether's reserves since 2021. The senators question whether the loan may have helped Lutnick's children obtain funds to purchase their father's stake in Cantor Fitzgerald, and they worry that this could involve a conflict of interest or bribery. Additionally, the senators expressed concerns about Tether's past compliance record and its lobbying activities during the legislative process of the GENIUS Act, emphasizing the need to ensure that crypto interests with political connections do not receive special treatment. (The Block)