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.
In follow-up letters sent the Thursday before publication, Blumenthal asked the companies to begin producing records by Nov. 30, 2026. World Liberty Financial and Fight Fight Fight LLC—the company behind President Donald Trump’s TRUMP memecoin—are both linked to Trump.
Blumenthal, described in the report as the ranking Democrat and incoming chair of the Senate Permanent Subcommittee on Investigations, said the panel would consider “alternative measures to obtain compliance” if the companies missed the January deadline. The subcommittee’s current rules allow its chair to subpoena documents and records.
The final deadline falls one day after Democrats are due to take control of the Senate, according to the report. Cointelegraph said none of the four companies responded to its requests for comment before publication.
Trump-linked ventures and potential conflicts
The requests follow an inquiry Blumenthal opened in May 2025 into potential conflicts of interest involving Trump’s crypto ventures. He sought records from World Liberty Financial and Fight Fight Fight LLC concerning ownership, foreign investments and safeguards against conflicts of interest.
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 under which an Abu Dhabi investment firm would acquire a 49% stake in World Liberty Financial.
Binance and Tether face sanctions-related requests
Blumenthal asked Binance in February 2026 for records concerning transactions linked to Iranian entities and Russia’s shadow fleet. In its March response, Binance called the underlying reports false and said that, to its knowledge, no Binance account had transacted directly with an Iran-based entity.
In his follow-up letter, Blumenthal said Binance had still not provided any of the requested records.
His letter to Tether renewed requests concerning the use of USDT by sanctioned entities and Tether’s dealings with Nxum, a consulting firm co-founded by former White House crypto adviser Bo Hines.
A report released by the panel’s Democratic staff in September 2026 alleged that USDT had become a key part of Iran’s shadow banking network. Tether disputed claims that USDT provides a haven for sanctioned actors, saying it had helped authorities freeze nearly $550 million in Iran-linked tokens during 2026.