According to the Wall Street Journal, sources have revealed that U.S. President-elect Donald Trump plans to nominate Cantor Fitzgerald CEO Howard Lutnick as Secretary of Commerce, instead of the previously rumored Treasury Secretary. Lutnick is a supporter of cryptocurrency, and his company is a long-time partner of the stablecoin Tether (USDT), helping to manage USDT's U.S. Treasury reserves, and recently launched a $2 billion Bitcoin financing business. Lutnick has previously publicly supported Bitcoin and advocated for it to be considered a commodity to reduce regulation.