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U.S. Democrats Investigating Trump Crypto Interests Extend to Binance and Tether

The Democratic staff of the Senate Committee on Homeland Security and Governmental Affairs' Permanent Subcommittee on Investigations released a report accusing $USDT of becoming a key financial conduit for Iran's shadow banking system, and demanding investigations by the Treasury Department and the Department of Justice into whether Tether violated sanctions and banking laws.

The report references Tether's connections to the Trump administration, including business dealings between Tether and Cantor Fitzgerald, controlled by Howard Lutnick's family, and Bo Hines, former head of the White House Crypto Council, serving as Tether's U.S. operations lead. This report continues the Democrats' investigation into the Trump family's crypto ventures.

In May 2025, Richard Blumenthal launched an investigation into TRUMP, a token holder dinner, and the launch of World Liberty Financial.

Strategy's Bitcoin Stockpile Is Bigger Than Before It Started Selling

Strategy bought 1,665 bitcoin last week for roughly $143 million, pushing its stockpile up to 847,666 coins—more than the digital asset treasury had before it started to sell them earlier this year.

The overall value of its stockpile, however, remains below what it was worth in early October, when the cryptocurrency hit its all-time high of more than $126,000 per coin. The world's largest cryptocurrency appears to have shaken off its winter doldrums, gaining more than 40% in the past three months to around $83,000 as of Monday morning.

BitMine Buys $46 Million of ETH

Amid its steady Ethereum purchases, the latest data from onchain monitoring platform Lookonchain shows that BitMine has bought another 17,362 ETH worth $46.82 million over the last week.

As usual, the transfer, which has barely gone unnoticed, was perceived to be part of BitMine's long-term Ethereum accumulation strategy rather than just a short-term purchase.

While the move has come after Ethereum slipped back into the red, dropping below its recent high of around $2,700, it appears that the treasury may be buying the dip. As such, BitMine has increased its already large Ethereum reserve at a cheaper price, pushing its treasury to a major milestone.

SharpLink Gaming Has Added Staking of over 42 Thousand ETH

On September 29, Lookonchain monitoring showed that SharpLink Gaming has once again staked 42,074 Ethereum ($ETH), worth approximately $112.8 million.

To date, SharpLink Gaming holds a total of 892,127 Ethereum (approximately $2.4 billion), and has cumulatively earned 27,945 Ethereum (approximately $75 million) in staking reward income.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Monday was $31.07 million. The total net asset value of Bitcoin spot ETFs is $107.82 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.42%.

The Bitcoin spot ETF with the highest net inflow on September 28 was iShares Bitcoin Trust, with a net inflow of $54.84 million, according to SoSoValue.