Senator Warren Probes Commerce Secretary Lutnick Over Tether's Alleged Loan to His Family

US Commerce Secretary Howard Lutnick, formerly the CEO of Cantor Fitzgerald, which handles Tether's US finances, is facing questions from Senate Democrats regarding a loan reportedly made by Tether to a trust linked to his children. The loan allegedly helped finance Lutnick's transfer of his company stake to his children, as required by government ethics rules after he took office. Senators Elizabeth Warren and Ron Wyden expressed concerns about the potential influence of Tether on Lutnick's policy decisions, stating that if the reports are accurate, they would raise serious questions about the relationship between Lutnick and Tether. The lawmakers emphasized the importance of making decisions in the best interest of the American public, rather than in the financial interest of Lutnick's family or Tether. The Department of Commerce and Tether have not responded to requests for comment on the matter. Lutnick's company, Cantor, is now led by his sons, Brandon and Kyle Lutnick, while Tether continues to expand its US operations, including the launch of its USAT stablecoin and the establishment of a US arm led by former Trump crypto adviser Bo Hines.