
PANews May 1 news, according to The Block, U.S. Senators Elizabeth Warren and Ron Wyden have written to the stablecoin issuer Tether and the country's Secretary of Commerce Howard Lutnick, questioning Tether's loan to Lutnick's children's family trust. This loan occurred during Lutnick's transfer of his shares in Cantor Fitzgerald to the children's trust. The senators indicated that the document raises questions: Did Tether help Lutnick's children obtain funds to purchase their father's shares, and in return gain control over their children's assets? If true, this would be a "shocking revelation." The senators also pointed out that Lutnick's relationship with Tether was very close even before his nomination, and Tether received favorable treatment in the GENIUS Act. Tether and the Department of Commerce have not yet responded to requests for comment.
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