Senate crypto investigation gives four firms until Jan. 4, 2027, to hand over records

Sen. Richard Blumenthal has set January 4, 2027, as the deadline for Binance, Tether, World Liberty Financial and Fight Fight Fight LLC to hand over records for ongoing Senate crypto investigations. The demand comes ahead of his scheduled move to chair the Senate Permanent Subcommittee on Investigations in January 2027, when he will have subpoena powers.

Blumenthal currently leads the panel’s Democratic minority. He warned that failure to meet the deadline would prompt the subcommittee to consider other enforcement options. His investigations focus on illicit cryptocurrency activity, possible conflicts of interest, and financial ties between the Trump administration and crypto companies.

Senate crypto investigations span wallet activity and political ties

The Binance inquiry began in February 2026. The exchange rejected the allegations in March, calling them false.

According to a Senate minority staff report released in September, 84% of 846 Iran-linked wallets targeted by sanctions or seizures relied almost exclusively on USDT. The report also put Tether’s share of stablecoin market value at about 60%.

Tether said it helped freeze almost $550 million in assets linked to Iran during 2026.

The Senate crypto investigations also extend to Tether’s political and financial connections. A letter dated October 22 requested records concerning its relationship with Nxum, a consulting firm co-founded by Bo Hines, the former White House crypto council director.

World Liberty Financial and Fight Fight Fight LLC have faced a separate investigation since May 2025. Fight Fight Fight LLC manages Official Trump (TRUMP). Blumenthal also held a forum in July 2026 where TRUMP investors testified about significant losses.

The records deadline applies to all four firms, with production due on January 4, 2027.

Read also: Trump: World Liberty Finance acquires new crypto through Cow Protocol · TSV tokenized share trading records $30,296 in four opening purchases

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.