US Senator Richard Blumenthal has demanded records from Binance, Tether, and two cryptocurrency companies connected to Donald Trump, setting January 4, 2027, as the final deadline for their voluntary responses. The Senate investigations are examining alleged illicit cryptocurrency transfers, foreign financial interests, and possible conflicts of interest involving the Trump administration.

The letters were sent to the four companies on November 5 by Blumenthal, who is expected to become chairman of the Senate Permanent Subcommittee on Investigations. He warned that businesses failing to provide the requested documentation could face additional measures as the committee seeks to obtain the information.

The investigation covers two separate areas of concern. World Liberty Financial and Fight Fight Fight LLC, the company associated with the Official Trump memecoin, are being questioned about overseas investments and potential conflicts of interest. Binance and Tether are under scrutiny over suspected financial misconduct, including cryptocurrency transactions reportedly linked to Iran.

Blumenthal Gives Binance, Tether and Trump-Linked Firms January 4 Deadline

The latest letters represent another step in the Senate’s months-long effort to investigate the four companies and obtain relevant corporate records.

Blumenthal has outlined two document submission dates. The initial deadline is November 30, followed by January 4, 2027, as the final opportunity for voluntary compliance. He warned that the subcommittee could explore alternative enforcement measures if the companies fail to meet its demands.

No subpoenas or formal enforcement actions have been announced in the latest correspondence. Instead, the letters establish a final period for the companies to cooperate before the Senate considers escalating its efforts.

Blumenthal currently holds the position of ranking member on the investigative panel. He is expected to assume the chairmanship after Democrats take control of the Senate subcommittee, potentially providing greater leverage to demand records and advance the investigations.

The Binance investigation began earlier this year. In February 2026, Blumenthal requested information about the exchange’s compliance framework and possible transactions involving Iranian entities.

He followed up in April with additional questions about whether Binance had accurately represented its handling of suspicious transactions. The exchange has disputed the allegations and defended its compliance practices.

Iran-Linked Wallets Put Tether’s USDT Under Senate Investigation

Tether’s role in the investigation attracted greater attention after Democratic members of the Senate subcommittee published a report on September 28.

The report reviewed 846 cryptocurrency wallets that had been sanctioned or targeted for seizure over alleged connections to Iran and regional proxy groups.

According to the investigators, 84% of the wallets had conducted transactions entirely or almost entirely using USDT. The findings raised concerns about the stablecoin’s potential role in supporting Iran’s shadow banking network.

Tether has rejected the report’s characterization, arguing that its compliance teams actively identify suspicious activity and freeze wallets associated with illicit transactions.

CEO Paolo Ardoino also defended the company’s actions, claiming that Tether froze Iran-linked addresses an average of four weeks before they were officially designated under sanctions programs.

The Senate’s latest requests could provide lawmakers with additional information about Tether’s monitoring systems, transaction reviews, and cooperation with enforcement agencies.

Trump Family’s Crypto Businesses Face Questions Over Foreign Money

The second investigation focuses on World Liberty Financial and Fight Fight Fight LLC, two cryptocurrency ventures associated with the Trump family.

Blumenthal launched the inquiry in May 2025 after raising concerns about potential conflicts between Trump’s business interests and his government responsibilities.

Investigators are examining overseas investments, financial relationships with foreign entities, and whether the companies’ activities raise questions under government ethics requirements.

Fight Fight Fight LLC is associated with the Official Trump memecoin, while World Liberty Financial represents another significant part of the Trump family’s cryptocurrency operations.

In July 2026, Blumenthal also organized a public forum examining the family’s crypto businesses. Investors in the TRUMP token testified during the proceeding, describing financial losses amounting to thousands of dollars.

The latest Senate requests connect two major investigations involving the cryptocurrency industry. One focuses on potential sanctions-related financial activity involving Binance and Tether, while the other examines foreign investments and possible conflicts of interest surrounding Trump’s crypto ventures.

The January 4, 2027, deadline could become a major turning point in the investigations. With Blumenthal preparing to lead the subcommittee, the four companies face growing pressure to provide the requested records or potentially encounter stronger congressional efforts to obtain them.