Senator Blumenthal Warns Binance, Tether and Trump-Linked Crypto Firms to Hand Over Records
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Highlights:
- Senator Richard Blumenthal warns Binance, Tether, and Trump-linked crypto firms to cooperate with ongoing congressional investigations.
- His letters warn that failing to provide records by January 4 could prompt stronger enforcement measures.
- Binance faces questions over money laundering controls, while Trump-linked firms face scrutiny of potential conflicts.
US Senator Richard Blumenthal has warned major cryptocurrency companies, including Binance, Tether, World Liberty Financial, and Fight Fight Fight LLC, to cooperate with ongoing congressional investigations. The Connecticut Democrat has demanded records related to alleged money laundering, sanctions evasion, and potential conflicts involving President Donald Trump’s cryptocurrency businesses. He warned that companies could face further congressional action if they fail to provide the requested information by January 4, 2027.
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In a November 5 official statement, Blumenthal said he had sent new letters to companies and government agencies that had not fully cooperated with his investigations. The senator is expected to become chair of the Senate Permanent Subcommittee on Investigations when Democrats take control in January.
🇺🇸 U.S. Senator demands overdue records from Binance & Tether.
• Inquiries stem from alleged illicit crypto use.
• Sen. Blumenthal set a Jan 4 deadline for docs. pic.twitter.com/fkoXAKcH0v
— Bitcoin Archive (@BitcoinArchive) November 8, 2026
Blumenthal Warns Crypto Firms Over Missing Records
Blumenthal told the companies to submit outstanding documents voluntarily or risk further action from the Senate subcommittee. In his letters, he warned that failure to provide the requested records by January 4 would force lawmakers to consider other ways to obtain the information.
The senator has been examining cryptocurrency businesses as part of a broader investigation into alleged financial misconduct and potential conflicts involving the Trump administration. His latest warning follows earlier requests for information that he says several companies have not adequately answered.
Binance and Tether Face Questions Over Illicit Crypto Transfers
Blumenthal has also renewed his investigation into Binance and Tether over the alleged use of cryptocurrencies for money laundering and sanctions evasion. In a November 5 letter to Binance CEO Richard Teng, the senator said the exchange had failed to provide records requested during an investigation that began 18 months earlier.
He asked Binance to begin submitting documents by November 30, with further records to follow. The requests cover the exchange’s anti-money laundering controls and suspected transactions involving Iranian and Russian entities. Blumenthal previously raised concerns about Binance’s dealings with Hexa Whale and Blessed Trust, two entities allegedly connected to Iran-linked transfers.
However, Binance rejected those allegations in a March 6 official response. The company said it had investigated both entities and removed them from its platform. It also denied firing employees for raising compliance concerns.
Meanwhile, Blumenthal’s investigation into Tether focuses partly on the use of its USDT stablecoin in Iran’s financial networks. In September, the senator released a report examining how cryptocurrency transactions allegedly helped Iran-linked entities move funds outside traditional banking channels.
Trump-Linked Crypto Firms Also Face Congressional Scrutiny
Blumenthal also sent letters to World Liberty Financial and Fight Fight Fight LLC, the company behind the TRUMP memecoin. The senator opened an investigation into both businesses in May 2025 after reports raised questions about their financial dealings and potential conflicts of interest. His inquiry examines whether Trump-linked cryptocurrency ventures received investments from foreign governments or conducted transactions involving individuals facing federal prosecution.
In July, Blumenthal held a public forum examining the Trump family’s cryptocurrency businesses. The event included testimony from TRUMP token investors who reported financial losses. The senator has not established that the companies violated federal law, and the latest letters do not announce criminal charges. Beyond cryptocurrency, Blumenthal also sent warnings to major technology companies and government officials as part of separate investigations.
The cryptocurrency companies face renewed pressure to provide documents before the January deadline. If they fail to cooperate, the Senate subcommittee could consider subpoenas or other measures to obtain the records.
The warnings come after Democrats won control of Congress in the November 3 midterm elections. Senator Elizabeth Warren is also expected to lead the Senate Banking Committee in January 2027. Her new role could bring closer scrutiny of cryptocurrency companies, investor protections, and Trump-linked crypto businesses.
JUST IN: 🇺🇸 Anti-crypto Senator Elizabeth Warren expected to become Chair of Senate Banking Committee, giving her major power over the financial industry. pic.twitter.com/t2nvMSdo1U
— Watcher.Guru (@WatcherGuru) November 6, 2026
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