Morning Briefing: Democrats Probe Trump's Crypto Ties; Ondo Perps Eyes US Market

US Senate investigators are probing Tether's alleged role in Iranian shadow banking and its ties to the Trump administration, including connections to Cantor Fitzgerald and former officials. Meanwhile, Ondo Perps CEO David Wells stated that offering perpetual futures in the US is a significant opportunity, though products would require structural adjustments to meet regulatory standards. Additionally, NEAR Intents reported freezing 503,000 dollars in funds stolen from Bitget during a recent exploit, while China's generative AI user base has surpassed 700 million as of the first half of 2026.