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      US Senator Investigates Cantor-Tether Relationship, Demands Explanation of Sanctions Compliance Measures

      PANews reported on October 9, citing CoinDesk, that Richard Blumenthal, the top Democrat on the US Senate Permanent Subcommittee on Investigations, sent a letter on October 8 local time to Cantor Fitzgerald CEO Brandon Lutnick (son of US Commerce Secretary Howard Lutnick), investigating Cantor's relationship with stablecoin issuer Tether. Blumenthal stated that most of Tether's assets are held in the United States and custodied by Cantor, and demanded that Cantor explain its banking operations and sanctions compliance safeguards, Howard Lutnick's past relationship with Tether, and the investigative measures Cantor has taken regarding the illegal use of Tether's stablecoin in Iran's shadow banking network and for evading sanctions against Russia.


      Source: PANews
      .

      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud