According to Odaily, Nate Geraci, President of The ETF Store, shared a report from the Wall Street Journal on X, highlighting significant developments concerning Tether. Earlier this year, Tether's Chief Financial Officer, Giancarlo Devasini, reportedly indicated in private discussions that Howard Lutnick would leverage his political influence to mitigate threats facing Tether. Lutnick holds a majority stake in Cantor, which is responsible for managing a substantial portion of Tether's assets, valued at $134 billion. Additionally, Cantor is said to own a 5% stake in Tether.
This revelation underscores the intricate connections between Tether and influential financial entities, raising questions about the role of political influence in the cryptocurrency sector. The involvement of prominent figures like Lutnick, who possesses significant control over Cantor, highlights the potential for political maneuvering to impact the stability and operations of major cryptocurrency firms. As Tether continues to navigate regulatory and market challenges, the strategic alliances and influence of key stakeholders remain critical to its ongoing operations and market position.