Sen. Richard Blumenthal has renewed demands for records from Binance, Tether, World Liberty Financial and Fight Fight Fight LLC, warning that the Senate Permanent Subcommittee on Investigations may take further steps if they do not comply.

In letters sent Nov. 5, Blumenthal sought documents and information that he says the companies have not adequately provided during investigations spanning roughly 18 months.

The firms have until Jan. 4, 2027, to submit the records voluntarily; the deadline comes one day after the new Congress convenes, when Blumenthal is expected to chair the subcommittee and could compel documents.

The Binance inquiry examines alleged Iran-linked transactions and possible sanctions evasion, as well as activity connected to Russia’s shadow fleet; Binance has rejected the allegations and said it knew of no direct transactions between its accounts and Iran-based entities.

Blumenthal is seeking Binance’s internal investigation report, records of Iranian users and documents supporting the company’s earlier responses.

A September report by Democratic staff alleged that USDT was widely used in Iran’s shadow banking network, finding that 84% of 846 Iran-linked wallets targeted by sanctions or seizures used Tether’s token almost exclusively; Tether disputed the characterization and said it helped authorities freeze nearly $550 million in Iran-linked tokens during 2026.

The Tether inquiry also seeks records about payments to Nxum, a consulting firm co-founded by Bo Hines, after reports that Tether paid the firm more than $6 million; Tether said an outside counsel investigation found no evidence of wrongdoing related to Nxum.

A separate investigation, opened in May 2025, examines World Liberty Financial and Fight Fight Fight LLC, which manages Official Trump, over potential conflicts of interest, foreign influence and compliance with federal ethics requirements.

Requests to World Liberty Financial cover ownership and management, relationships with Trump family-related companies, foreign investments and dealings with Binance, while Fight Fight Fight LLC has been asked for TRUMP revenue records, insider-trading safeguards and materials related to a 2025 dinner for major holders.

The scrutiny of World Liberty Financial also includes a reported $500 million deal for an Abu Dhabi investment firm to acquire a 49% stake, which Blumenthal and four other Senate Democrats have called to examine in hearings.

Tether is the most consequential potential market risk because USDT is the largest stablecoin and a major source of crypto-trading liquidity, so pressure on its compliance record could reach beyond the companies directly under investigation.

Bitcoin briefly slipped below $76,000 and ether hit a two-month low as midterm results came in, though the article said the records demands appeared to have limited direct effect on prices.