Senator Elizabeth Warren, one of the most prominent crypto skeptics in Washington, is now focusing her scrutiny on Tether and the man leading the Department of Commerce.
Sens. Warren and Wyden are pressing Tether and Commerce Secretary Lutnick over a reported loan made to a trust tied to Lutnick's children.
Senators Elizabeth Warren and Ron Wyden sent letters to Howard Lutnick and Tether CEO Paulo Ardoino asking about a loan Tether reportedly made to Lutnick's family.
Tether proposed merging Twenty One Capital with Strike and Elektron Energy in a two-stage deal to create the largest publicly traded Bitcoin firm. Twenty One Capital rose 6.6% in after-hours trading following the announcement, though it has fallen 15.8% year-to-date.
Tether has proposed a sweeping restructuring of Twenty One Capital, seeking to merge the Bitcoin treasury firm with payments platform Strike and mining company Elektron Energy.
Shares of Twenty One Capital (XXI) surged over 6% during after-hours trading Wednesday following an announcement from majority stakeholder Tether Investments regarding a proposed three-company merger involving Bitcoin payment processor Strike and mining operation Elektron Energy.
Tether has proposed that Twenty One Capital, a NYSE-listed bitcoin treasury venture, merge with Strike and Elektron Energy.
Twenty One Capital rose after hours as Tether backed proposed mergers with Strike and Elektron to expand its Bitcoin-focused platform.
The merger could reshape the crypto landscape by consolidating financial services and mining, but market sentiment remains skeptical. Tether proposes merger of XXI, Strike, Elektron Energy into public entity.
Binance recorded $46.29 million in net USDT outflows within a single hour, according to exchange flow data. The movement, tracked through spot inflow and outflow monitoring tools, represents a notable short-term shift in stablecoin positioning on the world's largest cryptocurrency exchange by trading volume.
The Conservative and Labour parties argued Nigel Farage broke Commons rules by not declaring the £5 million, but Reform UK said it was an exempt, personal, unconditional gift.
Tether led a $14 million funding round for Belo, a payments platform using crypto rails and stablecoins for faster, cheaper transactions. Belo helps users protect savings from inflation and weak local currencies, a major issue across Latin America. The funding is important as stablecoin adoption continues rising in the region.