U.S. Senator Richard Blumenthal has warned Binance, Tether, World Liberty Financial and Fight Fight Fight LLC, that they have until January 4, 2027 to hand over records for his crypto investigations and that a continued noncooperation could lead to further action. In letters sent on November 5, Blumenthal stated that none of the four crypto companies furnished any sort of document in 18 months. President Trump’s linked companies, World Liberty and Fight Fight Fight were told to begin showing documents by November 30, 2026. The requests are so far voluntary but if the January deadline were to pass, he wrote, the subcommittee will have “no choice but to consider alternative measures to obtain compliance.”Blumenthal’s Deadline Falls a Day After the New Congress is Seated As the ranking Democrat on the Senate Permanent Subcommittee on Investigations, Blumenthal at this moment lacks the authority to issue subpoenas. Under the panel’s rules, subpoena authority sits with the chair, meaning he can only request documents but cannot compel companies to turn them over. This is going to change in January when Democrats take control of the Senate following the midterms with Blumenthal poised to become the subcommittee’s next chair. The new Congress begins on January 3, one day before his deadline expires, giving his warning about “alternative measures” a potentially concrete enforcement timeline. Targets of my investigations—immigration abuses, Big Tech, crypto corruption, & more—should be on high alert. As incoming chair of the Permanent Subcommittee on Investigations, I’m sending a warning to all who’ve failed to cooperate. https://t.co/9A61MonayQ— Richard Blumenthal (@SenBlumenthal) November 6, 2026Crypto companies weren’t the only ones where the letters landed. CNN reported that the letters also went to Homeland Security Secretary Markwayne Mullin, FCC Chair Brendar Carr and donors to Trump’s White House ballroom project, including Amazon and Apple. Binance and Tether Face Questions Over Iran and a Former White House Adviser The Binance probe centers on the exchange’s alleged role in $1.7 billion of transfers to Iran. Blumenthal escalated that inquiry earlier this year, and his staff later put out a report on USDT’s alleged use in Iranian financial networks.Tether’s case runs closer to the White House. The Wall Street Journal reported in October that Tether paid roughly $6.3 million to Nxum, a consulting firm co-founded by Bo Hines. The first payment arrived in May 2025, while Hines was still executive director of the President’s Council of Advisers on Digital Assets, and he kept a one-third stake in the firm throughout. According to the Journal, Hines also lobbied to stretch the GENIUS Act compliance window for stablecoin issuers from 18 months to 36 months. He now runs Tether US. Nxum has denied that Hines had any involvement in its Tether work while he was in government.The Trump Crypto Probe has been Open Since May 2025World Liberty Financial and Fight Fight Fight have been under Blumenthal’s scrutiny the longest. He opened that inquiry in May 2025 over possible ethics and legal violations tied to the Trump family’s crypto businesses, including the role of foreign investors. It’s part of a broader Democratic push to investigate the TRUMP coin that, until now, had no way to force answers.The White House hasn’t stayed quiet. Trump has signaled he’s ready to fight the incoming Democratic majority, and CNN reported he ordered the Justice Department to “look into” Democrats pursuing investigations against his administration.The first checkpoint is Nov. 30. If World Liberty and Fight Fight Fight send nothing by then, attention shifts to Jan. 4 and to what Blumenthal does once he holds the gavel.The smartest crypto minds already read our newsletter. Want in? Join them.