[Democrats Demand "Voluntary" Cooperation from Binance, Tether, and Trump's Crypto Businesses; First Move After New Congress Convenes to Crack Down on Trump's Crypto Power] BlockBeats reports that on November 9th, Senator Richard Blumenthal, a senior Democratic senator, sent a new round of letters on November 5th to Binance, USDT issuer Tether, World Liberty Financial, and Fight Fight Fight LLC (the issuing entity of Trump's meme coin, TRUMP), demanding that these companies voluntarily submit previously requested investigation records and information by January 4th, 2027. The January 4th deadline is symbolic: it is the day after the new Congress officially convenes (January 3rd, 2027). With the Democrats securing a majority in both the House and Senate in the November 3rd midterm elections, Blumenthal is expected to become chairman of the Senate Permanent Subcommittee on Investigations. Currently, as a ranking member, he can only issue voluntary cooperation requests; once he becomes chairman, the committee will have the power to compel the submission of documents and subpoena witnesses. The letter explicitly warns: "If the requested records and information are not voluntarily provided by January 4, 2027, the subcommittee will have no choice but to consider other measures to ensure compliance." Industry insiders generally interpret this as reserving room for potential subpoenas. World Liberty Financial and Fight Fight Fight LLC are required to begin submitting materials as early as November 30, with a final deadline of January 4 for all four companies. The investigation primarily focuses on the following areas: · Binance: Focusing on previously reported approximately $1.7 billion in Iran-related transfers, sanctions compliance, and its partnership with World Liberty Financial's stablecoin USD1, as well as the background of Binance founder CZ's pardon by President Trump. • Tether: Focusing on the use of its USDT stablecoin in Iranian shadow banking networks and related payments to Nxum, a consulting firm co-founded by former White House crypto advisor Bo Hines (reportedly exceeding $6 million, occurring while Hines was still in government service). • Trump family crypto businesses: Including foreign investments in World Liberty Financial (such as funds related to the UAE), potential conflicts of interest, and ethical and compliance issues related to the Trump coin. Blumenthal previously launched an investigation in May 2025 and held a public forum in July 2026.