U.S. Senator Richard Blumenthal has issued a January 4, 2027, deadline for Binance, Tether, World Liberty Financial, and Fight Fight Fight LLC to hand over records and information requested in his ongoing crypto investigations.
In a November 5 statement, Blumenthal named the four companies among those receiving follow-up letters. He is examining Binance and Tether’s alleged links to illicit crypto activity and dealings with the Trump administration, as well as potential ethics and legal violations involving Trump-linked crypto businesses.
Blumenthal currently serves as the top Democrat on the subcommittee and is expected to become its chair next year.
Warning of Further Action
Although Blumenthal has not yet taken over as chair, he warned that the companies could face further action if they fail to meet the deadline.
“Failure to voluntarily produce the requested records and information by January 4, 2027, will leave the Subcommittee with no choice but to consider alternative measures to obtain compliance,” the letters stated.
In his letters, Blumenthal accused Binance, Tether, and World Liberty Financial of failing to adequately answer earlier requests or provide the records the subcommittee sought.
World Liberty Financial, which members of Trump’s family launched, has also drawn scrutiny over its business dealings and potential conflicts of interest.
According to Politico, Binance replied to Blumenthal’s request. A spokesperson said the exchange takes its legal and compliance obligations seriously and is committed to protecting users, improving its compliance measures, and cooperating with regulators.
Broader Records Requests
Blumenthal also sent letters to dozens of companies and individuals who donated to President Donald Trump’s proposed White House ballroom renovation, including Federal Communications Commission Chair Brendan Carr and Homeland Security Secretary Markwayne Mullin.
This is not Blumenthal’s first records request. The investigation into World Liberty Financial and Fight Fight Fight began in May 2025 and covers the Trump family’s crypto ventures, including the TRUMP token.
On October 22, he also sought records from Tether and Nxum Group over payments to a consulting firm co-founded by former White House crypto adviser Bo Hines, including contracts, communications, and crypto wallet details.
Trump Defends Family Crypto Ventures
Trump has defended his family’s crypto ventures amid growing questions about potential conflicts of interest, as Democrats prepare to take control of Congress.
In a 60 Minutes interview, he argued that every president faces questions about personal business interests.
When the interviewer pointed out that no previous president had owned a crypto company, Trump compared the industry to oil and other businesses that past presidents had ties to.
Trump said he could not ask his sons to pause their business activities while he served as president. Asked why he would not sell his stake, he questioned how he could divest from cash.
He also said he did not know whether foreign investors in World Liberty Financial expected political favors but argued that every president faced similar concerns.
