Senator Warren pressures Commerce Secretary nominee Lutnick to clarify his relationship with Tether

ChainCatcher news, according to Bloomberg, U.S. Democratic Senator Elizabeth Warren is pressuring Howard Lutnick, the Commerce Secretary nominee appointed by Trump, to clarify his relationship with Tether.

Warren asked whether Cantor Fitzgerald invested in Tether, whether due diligence was conducted, and whether Tether's compliance with anti-money laundering and international sanctions rules was verified. Although Lutnick did not list any investments in Tether in his financial disclosure, Cantor Fitzgerald holds shares in Tether. Lutnick promised to divest his shares in Cantor Fitzgerald if confirmed by the Senate.

Warren questioned whether these measures were sufficient to avoid conflicts of interest and pointed out Lutnick's personal connections with Tether's management. Tether responded that it has complied with relevant regulations and cooperated with law enforcement. Warren also requested Lutnick to clarify discussions with government officials.