Tether’s reserve custodian faces Senate questions. What can it see or stop?

Senator Richard Blumenthal has asked Cantor Fitzgerald to explain its Tether relationship by October 23. The inquiry separates control over reserve assets from control over USDT on public blockchains. A Senate Democrat requested records about Cantor Fitzgerald's Tether stake, reserve custody fees, sanctions screening and communications with officials. Democratic investigators alleged extensive USDT use by Iran linked wallets; Tether says it helped freeze approximately $550 million tied to Iran in 2026. Cantor's custody of reserve assets and Tether's authority to freeze token addresses are different functions, with different information and duties.

Source: crypto.news