According to TechFlow, on November 15, DL News reported that with Trump's victory, crypto users have flocked to the stablecoin Tether. DefiLlama data shows that since the end of the US election on November 6, Tether's total market value has risen by nearly 6% to more than US$127 billion.
Tether’s rise has surfaced Howard Lutnick, CEO of New York financial services firm Cantor Fitzgerald, which manages U.S. Treasuries for Tether, and who has repeatedly vouched for the stablecoin giant, which has come under scrutiny for years for refusing to release a full audit of its reserves.
It is reported that Howard Lutnick is Trump's main fundraiser and co-chairman of Trump's transition team. Now that Trump is about to take office in January next year, Howard Lutnick is working hard to get an important seat in his cabinet. It is reported that he is one of Trump's nominees for Treasury Secretary. Polymarket predicts that the market believes that the probability of his nomination is 26%.