Lutnick's Cooperation with Tether: A New Dynamic in the Crypto Market
The nominee for U.S. Secretary of Commerce, Howard Lutnick, is actively seeking cooperation with the stablecoin giant Tether Holdings. His company, Cantor Fitzgerald, will acquire a 5% stake in Tether and plans to issue billions of dollars in loans, using Bitcoin as collateral. This partnership may become the latest controversy for the new government, especially in the context of increasing regulation of Tether in the U.S. and other countries.
Cantor currently manages $134 billion in assets for Tether, primarily U.S. Treasury securities, with annual revenues potentially reaching tens of millions of dollars. Lutnick and Tether's CFO, DeVassini, have confirmed an investment agreement, with the potential value of these holdings reaching $600 million. Additionally, Cantor plans to launch an initial loan program of $2 billion, which, if supported by Tether, could grow to hundreds of billions in the future.
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