PANews November 24 news, according to Bloomberg, U.S. President-elect Donald Trump's nominee for Secretary of Commerce Howard Lutnick is exploring ways to strengthen financial ties with Tether, the world's largest stablecoin operator, planning to launch a $2 billion project that provides dollar loans to customers backed by Bitcoin. Reports cite sources familiar with the matter saying that Lutnick's financial services company Cantor Fitzgerald is discussing obtaining support from Tether to help fund the project, which could amount to several billion dollars. It is reported that Tether uses billions of dollars in U.S. Treasury bonds held by Cantor to support the value of its stablecoin, a relationship that helps Lutnick's company earn tens of millions of dollars each year.
