Bloomberg: Warren Presses Lutnick on Crypto Firm Loved by Outlaws
Democratic Senator Elizabeth Warren is pressing Commerce secretary nominee Howard Lutnick on connections he and his firm Cantor Fitzgerald LP have with a company that’s the go-to cryptocurrency of the criminal world, raising questions about potential conflicts of interest ahead of his confirmation hearing on Wednesday.
Warren asked Lutnick about his relationship to Tether Holdings Ltd., including how much he and Cantor Fitzgerald — the Wall Street investment bank and brokerage — have invested in the stablecoin issuer in a letter sent to him Tuesday and seen by Bloomberg News.
She also asked Lutnick to detail any due diligence performed and whether they verified if Tether is in compliance with “know your customer” rules in the Bank Secrecy Act, international sanctions, and anti-money laundering laws.
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By: Bill Allison and Todd Gillespie
Source: Bloomberg
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