U.S. Democrats Probe Trump's Crypto Interests, Linking Tether and Binance

Democratic investigators from the U.S. Senate Permanent Subcommittee on Investigations have released a report alleging that USDT serves as a financial conduit for Iran's shadow banking system, urging the Treasury and Justice Departments to investigate Tether for potential sanctions and banking law violations. The report highlights ties between Tether and the Trump administration, including business dealings involving Cantor Fitzgerald and the appointment of former White House crypto official Bo Hines to lead Tether's U.S. operations. This follows ongoing Democratic scrutiny into the Trump family's crypto ventures, including investigations into World Liberty Financial (WLFI) and the use of stablecoins in large-scale investments.