Originally reported by Cointelegraph on Nov. 9, 2026, at 17:00:17 UTC+8.
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, warning that noncompliance could lead to further action.
Blumenthal, the ranking Democrat and incoming chair of the Senate Permanent Subcommittee on Investigations, sent follow-up letters on Thursday asking the companies to begin handing over records by Nov. 30. Fight Fight Fight LLC is the company behind President Donald Trump’s TRUMP memecoin.
The January deadline falls one day after Democrats are due to take control of the Senate. Blumenthal said the panel would consider “alternative measures to obtain compliance” if the companies missed it. Under the panel’s current rules, its chair can issue subpoenas for documents and records; the article did not report that subpoenas had been issued.
What the inquiries cover
Trump-linked ventures: Blumenthal opened an inquiry in May 2025 into potential conflicts of interest involving Trump’s crypto businesses. He sought information from World Liberty Financial and Fight Fight Fight LLC about ownership, foreign investments and safeguards against conflicts. 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.
Binance: In February, Blumenthal requested records about 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 Thursday’s letter, Blumenthal said Binance had not supplied any of the requested records.
Tether: Blumenthal renewed requests for records 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. In September, Blumenthal released a report by the panel’s Democratic staff alleging that USDT had become a key part of Iran’s shadow banking network.
Tether disputed claims that USDT offers a haven for sanctioned actors, saying it helped authorities freeze nearly $550 million in Iran-linked tokens in 2026.
What remains unresolved
The letters set a timetable for producing records, not findings that establish the allegations. The companies’ responses and any subsequent enforcement steps remained unresolved in the report.
Cointelegraph said it sought comment from all four companies but received no responses before publication.