ChainCatcher reported that according to The Block, a Tether spokesperson said, "Tether's relationship with Cantor Fitzgerald is a purely professional relationship based on the management of reserves. The claim that Howard Lutnick's joining the transition team somehow means that there is an impact on regulatory actions is nonsense."
Lutnick said Wednesday he will resign from Cantor, BGC and Newmark subject to Senate approval, saying in a statement: "I intend to divest my interests in these companies to comply with U.S. government ethics rules and do not anticipate any arrangement involving the sale of stock in the open market."
Earlier news, the Wall Street Journal reported that Tether owner Giancarlo Devasini privately stated earlier this year that Howard Lutnick, chairman of Cantor Fitzgerald and Trump's presidential transition adviser, would use his political influence to defuse the threats facing Tether.