Odaily Planet Daily News Trump is selecting cabinet members for the incoming administration in 2025, and the position of Secretary of the Treasury is reportedly currently competing between Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick. FOX Business reporter Eleanor Terrett said Bessent is "almost certain" to get the position. The asset manager who supports crypto assets has the greatest chance of becoming the U.S. Treasury Secretary along with hedge fund manager John Paulson. However, according to sources close to the process, Paulson withdrew from the cabinet selection due to what he called "complex financial obligations," and Lutnick has allegedly rushed in to compete for the position of Secretary of the Treasury. Although the position is currently undecided, Lutnick and Bessent are both candidates who support encryption, believe that the industry will continue to exist, and hope that the United States will promote the development of the digital asset field. It is reported that Cantor Fitzgerald, the company led by Lutnick, has served as the custodian of Tether's Treasury bond portfolio since 2021 and became the custodian of Tether's bond portfolio in 2023. Lutnick has always been a supporter of cryptocurrency and has praised Tether and Bitcoin. (Cointelegraph)