Binance, Tether and WLFI: Senate demands documents before January 2027

US Senator Richard Blumenthal sets January 4, 2027 as deadline to obtain documents from Binance, Tether, World Liberty Financial (WLFI) and Fight Fight Fight LLC. In letters dated November 5, 2026, the future president of the Senate Permanent Investigative Subcommittee (PSI) requests their cooperation in several investigations related to crypto activities. Businesses must begin submitting their documents on November 30. Failing this, the senator will consider other measures to obtain the requested information.

What is the US Senate demanding from Binance, Tether and WLFI?

In letters dated November 5, 2026, Connecticut Democratic Senator Richard Blumenthal renews his requests for documents. They aim:

• the Binance crypto exchange;
• Tether;
• World Liberty Financial (WLFI);
• Fight Fight Fight LLC, the crypto company behind the TRUMP memecoin.

These crypto companies will have to confirm receipt on November 9, start producing on November 30 and complete the delivery on January 4, 2027. In the absence of voluntary delivery, the Permanent Subcommittee of Investigation of the Senate (PSI) will have to consider “alternative measures”.

According to letters addressed to Binance and to Tetherno document has been produced in 18 months. For the moment, the four crypto companies mentioned have not issued any comments.

Crypto investigation in the Senate: why is January 4, 2027 an important deadline?

Richard Blumenthal signs these letters as a member of the minority, while his office presents him as future president of the PSI. Democrats won a majority in the Senate in the November 3 midterm elections. This new majority will take office in January 2027, when Richard Blumenthal is expected to take over as president of the PSI.

The rules of the subcommittee authorize its president to issue subpoenas, that is to say orders to produce documents. The letters do not, however, specify which measure would be taken.

For Binance, the senator relies on investigations from the New York Times, the Wall Street Journal and Fortune. They evoke $1.7 billion in transfers to Iran-linked entities. In response, the crypto platform claims to have only directly exchanged $110,000 with four Iranian platforms in one year. The senator therefore considers this figure difficult to reconcile with the reports and asks for the methodology. Binance has obviously contested these articles since March.

For the crypto company Tether, a report from the PSI minority published on September 28 describes USDT as a “financial lifeline” for Iran’s parallel banking network. An October 22 letter also raises questions about payments to Nxum, a company co-founded by Bo Hines: $415,000 per month and more than $6 million in total, according to the Wall Street Journal. However, these are reported allegations, and not judicial findings.

Tether: a major weight in the crypto stablecoin market

For some crypto analysts, the issue is also financial. According to DefiLlama, the capitalization of USDT reaches approximately $176.8 billion as of November 9, 2026. The platform displays 71.65% dominance in the stablecoin market.

No court has found that the crypto exchange Binance or Tether violated the sanctions. No subpoena also appears in the file. THE letters therefore request proof, without rendering a verdict. They also do not address the technical functioning of USDT or USD1.

January 4, 2027 therefore constitutes a decisive deadline. In the absence of voluntary transmission of the documents, Richard Blumenthal warns that the subcommittee may consider other means of obtaining their communication. It remains to be seen whether Binance, Tether and Trump-linked crypto entities will produce their documents as early as November 30, and what action the subcommittee will take next. To be continued…