Tether CEO Paolo Ardoino criticized a Senate investigation led by Senator Richard Blumenthal that accused the stablecoin issuer of failing to prevent illicit transactions involving Iran. Speaking at DC Fintech Week in Washington, Ardoino argued the report overlooked Tether's efforts that have contributed to lower Iran-related volumes and condemned the decision to release findings to the media before the company could review them. The Senate report focused heavily on the period before 2024, stating that Tether did not comprehensively freeze flagged wallets during that time. According to the document, this lack of enforcement allowed terrorist organizations such as Hamas to shift from Bitcoin and other cryptocurrencies to USDT for transactions. Ardoino acknowledged the work "is not finished" but defended Tether's role in removing bad actors from the network. Blumenthal has since expanded his probe to examine Tether's relationship with its U.S. financial partner, Cantor Fitzgerald, which maintains close ties to President Donald Trump's administration. Tether further strengthened its U.S. presence last fall by appointing Bo Hines, Trump's former White House crypto adviser, as CEO of its American division.