US Democratic Senator Richard Blumenthal has requested that Binance, Tether World Liberty Financial ($WLFI), and Fight Fight Fight LLC provide various records and information as part of the investigation.
Senator Richard Blumenthal, as part of an investigation into the illegal use of cryptocurrencies and contacts between the Trump administration and crypto companies, sent official letters to Binance, Tether, World Liberty Financial, and Fight Fight Fight LLC requesting their registration by January 4th.
The committee also warned that if the deadline is missed, other methods will be used to obtain the requested information and documents. In this regard, companies were asked to voluntarily submit the required records by January 4, 2027.
Iran Focuses on Reviews of Binance and Tether!
The investigation into Binance and Tether focuses on the use of cryptocurrencies in illicit activities and potential conflicts of interest between the Trump administration and crypto companies. Additionally, Binance’s alleged use of Tether’s $USDT and $WLFI’s USD1 stablecoin in transactions potentially related to sanctions evasion, money laundering, and terrorist financing is being examined.
Particularly noteworthy are the allegations that $USDT, issued by Tether, is being used in Iran’s financial networks to circumvent sanctions. A subcommittee report published in September stated that 84% of the 846 Iran-linked wallets examined used $USDT almost exclusively.
The Trump Family’s Crypto Ventures Also Under Scrutiny!
The investigation into $WLFI and Fight Fight Fight LLC covers potential conflicts of interest, foreign investments, and allegations of ethical violations linked to US President Donald Trump and his family’s cryptocurrency ventures. Fight Fight Fight LLC is known as the company that launched the TRUMP memecoin project, named after Trump himself.
However, these letters do not yet mean that any company is guilty. The responses of the companies and the steps taken by the subcommittee will be closely monitored as the investigation progresses.
*This is not investment advice.
