Senators allege the commerce secretary's divestiture was financed by a loan from Tether, a firm affected by his portfolio
The Warren–Wyden letter cites public UCC filings; full loan terms are not public.
Cantor Fitzgerald
Investment bank formerly led by Commerce Secretary Lutnick; holds a convertible stake in Tether and custodies most of its reserves, per reporting cited by senators.
Profile sources: Bloomberg
Claims involving Cantor Fitzgerald (1)
Documented relationships (1)
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| Subject | Relationship | Object | Establishes / does not establish | Sources |
|---|---|---|---|---|
| Cantor Fitzgerald | invested in | Tether | A convertible bond of more than $600 million entitling Cantor to 5% of Tether's equity, plus custody of most reserves, per Bloomberg and reporting cited by senators. Does not establish: The exact transaction dates or terms, which public reporting gives only in ranges. | Bloomberg U.S. Senate Committee on Banking, Housing, and Urban Affairs (minority) |
On the timeline
- 2026-04-29 Official acts Warren and Wyden ask Secretary Lutnick about the alleged Tether-financed divestiture