Read this article on bsc.news US Senator Richard Blumenthal has given Binance, Tether, World Liberty Financial and Fight Fight Fight LLC until January 4, 2027, to hand over records requested
US Senator Richard Blumenthal has given Binance, Tether, World Liberty Financial and Fight Fight Fight LLC until January 4, 2027, to hand over records requested in a Senate inquiry into illicit crypto activity and potential conflicts of interest tied to the Trump family's crypto ventures.
The requests extend to Binance (@binance), Tether (@tether) and Trump-linked companies including World Liberty Financial (@worldlibertyfi), issuer of $WLFI, and Fight Fight Fight LLC, the issuer of the Trump memecoin. The deadline falls shortly after the US midterm elections, and as Blumenthal prepares to take over the Senate panel leading the inquiry.
According to the senator's office, a notice issued on November 5 went to individuals, companies and agencies that have not cooperated with ongoing inquiries. Blumenthal is the incoming chair of the Senate Permanent Subcommittee on Investigations. The office said he opened an inquiry into the $TRUMP cryptocurrency and World Liberty Financial in May 2025, and held a public forum on the Trump family's crypto ventures in July 2026. It also said he released a report describing how Tether and its dollar-pegged stablecoin have become a financial lifeline within Iran's shadow banking network.
Reporting by Crypto Briefing indicates World Liberty Financial and Fight Fight Fight LLC were asked to begin producing records by November 30, with January 4 as the full production deadline for all four companies. The Binance letter asks for transaction data linked to Iranian exchanges, according to Blockchain Reporter.
Blumenthal has said that if the companies do not voluntarily provide the material by January 4, the subcommittee could consider other measures to obtain it. His current position as ranking member does not give him unilateral subpoena authority, The Defiant reported. Once he takes the chair in the new Congress, that could change.
The requests are not findings of wrongdoing. The Token Press noted that the inquiries have not established that any recipient broke the law, and Blockchain Reporter said no court has found that Binance or Tether violated sanctions law. The Associated Press, cited by The Token Press, reported that incoming congressional leaders plan to use larger staffs and subpoena powers to examine alleged conflicts, and that Blumenthal wants to look at the president's crypto dealings with special envoy Steve Witkoff, a co-founder of World Liberty Financial.
For the crypto industry, the January 4 date marks the point at which a voluntary request could turn into a more forceful process.
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