Historical report: Cointelegraph published the original article on Nov. 9, 2026, at 17:00:17 UTC+8. The deadlines and inquiry status below reflect that reporting.
US Senator Richard Blumenthal gave Binance, Tether, World Liberty Financial and Fight Fight Fight LLC until Jan. 4, 2027, to voluntarily provide records sought in Senate inquiries. The requests concerned potential conflicts of interest involving President Donald Trump’s crypto ventures and questions about sanctions-linked activity.
According to Cointelegraph, follow-up letters sent Thursday asked the companies to begin producing records by Nov. 30, 2026. Blumenthal warned that the Senate Permanent Subcommittee on Investigations would consider “alternative measures to obtain compliance” if they missed the January deadline. The panel’s current rules allow its chair to subpoena documents and records.
Blumenthal was the panel’s ranking Democrat and incoming chair. The final deadline fell one day after Democrats were due to take control of the Senate.
Trump-linked ventures: ownership and conflicts questions
Blumenthal opened an inquiry in May 2025 into potential conflicts of interest involving Trump’s crypto ventures. He requested ownership, foreign-investment and conflict-safeguard records from World Liberty Financial and Fight Fight Fight LLC, the company that launched Trump’s TRUMP memecoin.
World Liberty Financial’s lawyers disputed his claims and said the company had no affiliation with Fight Fight Fight LLC.
In June 2026, Blumenthal and four other Senate Democrats called for hearings into a reported $500 million deal for an Abu Dhabi investment firm to acquire a 49% stake in World Liberty Financial. The source described that transaction as reported, rather than independently establishing its terms.
Binance and Tether: disputed sanctions allegations
In February 2026, Blumenthal sought Binance records concerning transactions linked to Iranian entities and Russia’s shadow fleet. Binance called the underlying reports false in its March response and said that, to its knowledge, no Binance account had transacted directly with an Iran-based entity.
In his Thursday follow-up, Blumenthal said Binance had still not provided any of the requested records.
His letter to Tether renewed requests concerning sanctioned entities’ use of USDT and Tether’s dealings with Nxum, a consulting firm co-founded by former White House crypto adviser Bo Hines.
A September 2026 report by the panel’s Democratic staff alleged that USDT had become a key component of Iran’s shadow banking network. Tether disputed claims that USDT offered a haven for sanctioned actors, saying it had helped authorities freeze nearly $550 million in Iran-linked tokens in 2026.
What the record establishes—and what it does not
The documented development was an escalation in demands for records, backed by the possibility of compulsory action. It was not a finding of wrongdoing. The conflict-of-interest questions and sanctions allegations remained distinct from established misconduct, and the companies’ denials did not resolve the outstanding requests for evidence.
Cointelegraph said Binance, Tether, World Liberty Financial and Fight Fight Fight LLC did not respond to its requests for comment before publication.