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

The article examines Tether’s ties to Lutnick’s former firm and a loan to a trust benefiting his children.

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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Howard Lutnick R · Secretary of Commerce
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Howard Lutnick
R · Secretary of Commerce

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

PRIMARY SUBJECT
Richard Blumenthal
D · CT · SEN

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

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

President who signed the Genius Act

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