Blumenthal Sets Jan. 4 Records Deadline for Crypto Firms

Sen. Richard Blumenthal gave Binance, Tether, World Liberty Financial and Fight Fight Fight LLC until Jan. 4, 2027, to provide records requested in Senate inquiries. He warned that failure to meet the deadline could lead to compulsory action.

Blumenthal, the Senate Permanent Subcommittee on Investigations’ ranking Democrat and incoming chair, sent follow-up letters to the four companies Thursday. Fight Fight Fight LLC launched President Donald Trump’s TRUMP memecoin.

The companies were asked to begin providing records by Nov. 30 and complete their submissions by Jan. 4. The final deadline falls one day after Democrats are scheduled to take control of the Senate. Under the subcommittee’s current rules, its chair can issue subpoenas for documents and records.

Blumenthal wrote that the subcommittee would consider “alternative measures to obtain compliance” if the companies miss the January deadline. The inquiries cover ownership, foreign investments, possible conflicts of interest, sanctions-related activity and other crypto transactions.

Blumenthal opened an inquiry into Trump’s crypto ventures in May 2025. He requested records from World Liberty Financial and Fight Fight Fight LLC on their ownership, foreign investments and safeguards against conflicts of interest. World Liberty Financial’s lawyers disputed his claims and said the company had no affiliation with Fight Fight Fight LLC.

In June 2026, Blumenthal and four other Senate Democrats called for hearings on a reported $500 million deal under which an Abu Dhabi investment firm would acquire a 49% stake in World Liberty Financial.

Blumenthal requested records from Binance in February on transactions linked to Iranian entities and Russia’s shadow fleet. Binance called the reports behind the request false in a March response and said that, to its knowledge, no Binance account had transacted directly with an Iran-based entity. In his latest letter, Blumenthal wrote that Binance had not provided the requested records.

The renewed request to Tether seeks information on USDT use by sanctioned entities and the company’s dealings with Nxum, a consulting firm co-founded by former White House crypto adviser Bo Hines.

In September, Blumenthal released a report by the subcommittee’s Democratic staff alleging that USDT had become part of Iran’s shadow banking network. Tether rejected claims that USDT provides a haven for sanctioned actors and said it helped authorities freeze nearly $550 million in Iran-linked tokens in 2026.

Binance, Tether, World Liberty Financial and Fight Fight Fight LLC had not responded to requests for comment before publication.

Reviewed and fact-checked by Alex Panasenko on November 9.