According to BlockBeats news on December 13, reported by Protos, the U.S. Securities and Exchange Commission (SEC) announced that Tether's primary asset custodian, Cantor Fitzgerald, agreed to pay a $6.75 million fine for making misleading statements to investors in two SPAC projects. These two SPAC projects previously raised a total of $750 million. SEC enforcement division deputy director Sanjay Wadhwa pointed out that Cantor Fitzgerald repeatedly denied engaging with acquisition targets in public documents, but had actually engaged in substantial merger negotiations with several private companies.
The Wall Street Journal previously reported that Cantor Fitzgerald holds a 5% stake in Tether, valued at approximately $600 million, while also serving as the primary custodian managing Tether's $134 billion in assets, earning tens of millions of dollars in custody fees annually. The institution agreed to pay a fine without admitting or denying the allegations, with its spokesperson stating that 'no actual harm was caused to investors.'