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Iran evades US sanctions using scheme tied to Trump's commerce secretary: report

Blumenthal led the Senate subcommittee report examining Tether’s use in Iran-related sanctions evasion.

Iran evades US sanctions using scheme tied to Trump's commerce secretary: report
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This article1 analysis · Sep 28, 2026
Raw Story
Sep 28, 2026
tl;dr

A Senate subcommittee report says Iran used Tether’s USDT to evade sanctions and alleges the company did not quickly freeze tokens in sanctioned wallets. The article also examines Tether’s financial ties to Commerce Secretary Howard Lutnick and his former firm, Cantor Fitzgerald.

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Richard Blumenthal D · CT · SEN
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Richard Blumenthal
D · CT · SEN

Senator who led the subcommittee behind the report on Tether and Iran

PRIMARY SUBJECT
Howard Lutnick
R · Secretary of Commerce

Commerce Secretary whose former firm and family trusts have financial ties to Tether

Lutnick's version of this story ↗
Donald Trump
R · President of the United States

President who signed the Genius Act

Part of a bigger story

7 OUTLETS
Blumenthal-Led Senate Report Alleges Tether Use in Iran Sanctions Evasion

Outlets agree that Richard Blumenthal led a Senate report alleging Tether’s USDT was used in Iran-linked sanctions evasion. Blumenthal called for federal investigations. Left-leaning outlets connect the allegations to Tether’s ties involving Howard Lutnick and broader political or financing networks; center outlets focus on the report’s findings and Tether’s response.

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