According to Foresight News, as reported by Protos, the financial services company Cantor Fitzgerald, associated with Tether, has agreed to pay a $6.75 million fine to the U.S. Securities and Exchange Commission (SEC). The SEC alleged that two special purpose acquisition companies (SPACs) controlled by it made misleading statements to investors before raising $750 million in IPO funding, concealing substantial discussions with potential merger targets.
(The Wall Street Journal) Previously reported that Cantor Fitzgerald holds a 5% stake in Tether and helps Tether manage $39 billion in bond assets, charging tens of millions of dollars in fees.