Senate Sets Jan. 4 Deadline for Binance, Tether, and Trump-Linked Crypto Firms

Senate deadline — U.S. Senator Richard Blumenthal has given Binance, Tether, and two crypto firms linked to former President Donald Trump until January 4, 2027, to voluntarily turn over records sought by a Senate subcommittee.

In follow-up letters sent Thursday, Blumenthal, the ranking Democrat and incoming chair of the Senate Permanent Subcommittee on Investigations, warned that failure to meet the deadline could prompt “alternative measures to obtain compliance.” The letters ask the companies to begin producing records by November 30.

The firms targeted are Binance, Tether, World Liberty Financial, and Fight Fight Fight LLC, the company behind the TRUMP memecoin. The January 4 deadline falls a day after Democrats are due to take control of the Senate, which would give Blumenthal subpoena power as chair of the investigative subcommittee.

The inquiries span multiple issues. Blumenthal’s letter to Binance renews requests for records on transactions linked to Iranian entities and Russia’s shadow fleet, alleging Binance has not turned over any requested documents. His letter to Tether seeks records on the use of USDT by sanctioned entities and on Tether’s dealings with a consulting firm co-founded by a former White House crypto adviser.