$BTC ๐จ Shocking News: Cantor Fitzgerald CEO Plans $2B Bitcoin Lending Program ๐ธ๐
Cantor Fitzgerald CEO Howard Lutnick, Trumpโs Commerce Secretary nominee, is launching a $2B initiative to lend dollars backed by Bitcoin. The project, supported by Tether (USDT), could scale to tens of billions, per WSJ. Cantor holds $600M in Tether shares and manages its U.S. Treasuries.
๐ฅ Next Steps: Staffing has begun, but lending operations havenโt started. Lutnick plans to hand off Tether oversight as he transitions to the Commerce Department, overseeing 47,000 employees.
โ๏ธ Regulatory Spotlight: While USDT remains the largest stablecoin ($132B market cap), Tether faces scrutiny over compliance issues, which it denies.
๐ค Trump Connection: Trump, a vocal crypto supporter, is considering a new White House crypto policy role. Lutnick has hosted fundraisers for him, deepening their ties.
This marks a bold leap for crypto and traditional finance under the new administration! ๐